The Latest: Trade dispute escalates between US and China
A man looks at his smartphone near a display showing stock prices at a brokerage house in Shanghai Monday, May 6, 2019. China's benchmark Shanghai Composite index dives on U.S. President Donald Trump threat of more China tariffs. At right is a reflection off a display board. (AP Photo)
People walk by a globe structure showing the United States of America on display outside a bank in Beijing, Monday, May 6, 2019. U.S. President Donald Trump raised pressure on China on Sunday, threatening to hike tariffs on $200 billion worth of Chinese goods in a tweet that sent financial markets swooning. Trump's comments, delivered on Twitter, came as a Chinese delegation was scheduled to resume talks in Washington on Wednesday aimed at resolving a trade war that has shaken investors and cast gloom over the world economy. (AP Photo/Andy Wong)
WASHINGTON – The Latest on the U.S.-China trade talks (all times local):
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5:15 p.m.
U.S. Trade Representative Robert Lighthizer says the higher tariffs on China that President Donald Trump threatened over the weekend will take effect at 12:01 a.m. Eastern time Friday.
Lighthizer adds that trade negotiations with the Chinese will resume on Thursday in Washington.
In a briefing with reporters, Lighthizer accused Beijing of "reneging on prior commitments" after 10 rounds of high-stakes negotiations over China's aggressive drive to supplant American technological dominance.