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Chinese State Media Blames U.S. for Setback in Trade Talks

  • Official People’s Daily asks U.S. to take full responsibility
  • Markets await Beijing’s response to increase in U.S. tariffs
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Andrew Bishop, global head of policy research at Signum Global Advisors, talks about the U.S.-China trade spat.(Source: Bloomberg)
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Chinese state media blamed the U.S. for a lack of progress in trade talks while emphasizing China’s economic resilience, as the world awaits details on measures Beijing has promised in retaliation for the U.S. raising tariffs on Chinese goods.

People’s Daily, the flagship newspaper of China’s Communist Party, said in a front-page commentary that the U.S. should take full responsibility for the setbacks because it went back on its word and imposed more levies on Chinese products. “That cast a shadow on the trade talks and directly led to the fruitless outcome” of trade discussions, the paper said.