President Trump’s economic conflict with China is set to escalate this week, as the administration plans to unveil fresh tariffs on $200 billion in Chinese products entering the U.S. and Beijing debates new ways to retaliate against U.S. corporations doing business in China, the Wall Street Journal reported. The threats from both sides of the Pacific risk upending a fragile new diplomatic initiative — led by Treasury Secretary Steven Mnuchin and supported by top U.S. financial and business executives — to see if they can broker negotiations aimed at staving off a new round of tit-for-tat penalties. As part of that initiative, the Chinese government over the weekend was completing plans for a top economic policy official to visit Washington, D.C., in the next few days to lay the groundwork for a trip by Vice Premier Liu He the following week. Liu is expected to see Mnuchin, and possibly Trump. But Chinese officials said that if Trump carries out his plans to announce the fresh tariffs early this week, then those talks could get scuttled. Read more. (Subscription required.)
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