China\, U.S. agree to hold more trade talks in Beijing - Liu He

ROUGH CUT.

NO REPORTER NARRATION.

China and the United States have agreed to hold more trade talks in Beijing, Vice Premier Liu He said on Friday (May 10), as U.S. President Donald Trump ordered his trade chief to begin the process of imposing tariffs on all remaining imports from China.

Liu voiced a measured optimism on reaching a deal, but said there were "issues of principle" on which China would not back down.

Liu added talks would continue in Beijing, but gave no details.

The United States escalated a tariff war with China on Friday by hiking levies on $200 billion worth of Chinese goods in the midst of last-ditch talks to rescue a trade deal.

Trump issued orders for the tariff increase, saying China "broke the deal" by reneging on earlier commitments made during months of negotiations.

But underscoring a lack of progress in the talks, Trump ordered a further escalation of tariffs.

Trump's move would subject about $300 billion worth of Chinese imports to punitive tariffs, U.S. Trade Representative Robert Lighthizer said in a statement.