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trade war casualties

China cancels trade talks, slams U.S. sanctions

China on Friday canceled scheduled trade negotiations with the United States, citing the Trump administration's tariff escalations. President Trump announced a new round of tariffs on $200 billion of Chinese imports Monday and is expected to target another $257 billion in products this coming week.

"Nothing the U.S. has done has given any impression of sincerity and goodwill," said Chinese Foreign Ministry representative Geng Shuang. "We hope that the U.S. side will take measures to correct its mistakes."

China also slammed new U.S. sanctions punishing Beijing for purchasing weapons from Russia. "The U.S. approach is a blatant violation of the basic norms of international relations, a full manifestation of hegemony, and a serious breach of the relations between the two countries and their two militaries," said a Chinese Defense Ministry statement promising "consequences."