China’s Foreign Ministry Spokesman Says He Wasn’t Aware of Any Xi-Trump Phone CallHere are the KEY TAKEAWAYS from U.S.-China trade tensions Friday:The Trump administration imposed a 25% tariff on more than $200 billion in Chinese goods, up from 10% before, in its most aggressive step yet in the trade war. China said it will take “necessary countermeasures,” though has yet to specify themDay one of talks between top Chinese and U.S. economic officials in Washington ended with little progress and a downbeat mood, according to people familiar with the talks. The index closed up 3.1% and the yuan roseInvestors are also on the lookout for any sign of a call between Presidents Donald Trump and Xi Jinping, after Trump said he’d received a letter from Xi and flagged the potential for a phone conversation between themNext steps to watch include the details on China’s retaliation, news on any broader stimulus efforts to safeguard growth and on any move by Trump to impose new 25% tariffs on $325 billion more of imports, a threat that he reiterated Thursday Chris Anstey Managing Editor, Asia Cross-Asset Markets05/10 03:55 ETThank you for following our coverage of the ongoing China-U.S. trade spat.
