news 5 days ago

The Latest: Trump on China trade dispute: 'We always win'

The Associated Press

WASHINGTON (AP) — The Latest on standoff between the two largest economies in the world as they trade retaliatory tariffs. (all times local):

12:33 p.m.

President Donald Trump is downplaying the escalating trade dispute between the U.S. and China as nothing more than "a little squabble" between friends.

Trump says the U.S. has been treated unfairly by China "for many, many decades" and says he thinks things will "turn out extremely well" because, "We're in a very strong position."

As for who is winning the dispute, Trump tells reporters as he leaves for a trip to Louisiana that, "We always win."

Trade talks between the two countries have broken down, with U.S. officials listing $300 billion more in Chinese goods for possible tariff hikes and Beijing vowing Tuesday to "fight to the finish" in an escalating trade battle that is fueling fears about damage to global economic growth.

Trump says that the two countries were close to a deal, but says China "broke it."

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11:29 a.m.

U.S. officials targeted $300 billion in additional goods from Chinese goods for possible tariff hikes while Beijing vowed to "fight to the finish."

Global markets stabilized Tuesday but did not fully recover from a widespread sell-off that began the week as risks to global economic growth escalated.

The U.S. Trade Representative's Office issued its target list after Beijing announced tariff hikes Monday on $60 billion of American goods in their spiraling dispute over Chinese technology ambitions and other irritants. China was reacting to President Donald Trump's surprise decision last week to impose punitive duties on $200 billion of imports from China.