Trade tensions escalate as the US and China barrel toward tariff hikes
by the White House and the Treasury Department but has been confirmed by several news outlets including Business Insider.
President Donald Trump has publicly vacillated between the prospect of a prolonged dispute with China and optimism toward a deal. Against the backdrop of a rapidly-evolving, the president could face increasing pressure to scale back tariffs that could alter the calculus of his reelection bid. China has increased American agricultural purchases ahead of this week's meetings between Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and a Chinese delegation led by Vice Premier Liu He in Washington. Soybeans have been at the center of trade negotiations since China halted imports of them last year.
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