Despite hinting that a deal could still be reached and noting the “beautiful letter” he received from his Chinese counterpart, President Donald Trump increased tariffs on $200 billion worth of Chinese imports Friday morning. “I have no idea what’s going to happen,” Trump said Thursday at the White House, where high-level trade negotiations will continue today. In response, Beijing said it would take unspecified “countermeasures.”
What are the prospects for a deal? While some say the Trump administration is eager to avoid further market volatility, others believe the relationship is now so strained that a quick-fire deal would be difficult.