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00:00:00
wall street's faced another sell off Tuesday as investors grappled with escalating trade tensions between the US and China the Dow was down more than four hundred points at the low of the morning well the S. and P. and nasdaq were also deep in the red the declines coming despite news that China is still sending its top trade official hi to Washington this week as Beijing tried to play down the sudden increase in tension after US president Donald Trump tweeted he'd ramp up terrace at the end of this week on two hundred billion dollars worth of Chinese goods from ten to twenty five percent writers Michael Martina has been covering the story from Beijing and says skepticism is growing over whether these two sides can really strike a deal so both governments in in recent in recent weeks before %HESITATION trump's latest remarks had had been expressing optimism about the possibility of reaching a deal in fact if you talk to trade experts and even executives and companies involved in trying to US trade there is actually a fair amount of skepticism that any kind of long lasting deal could be reached basically because of the rigidity of US demands and because China's essentially unwillingness or %HESITATION inability to implement such reforms Chinese trade experts say that recent positive economic indicators could mean that both sides are have less incentive to quickly reach a deal US officials say China has backtracked on substantial commitments made during months of negotiations seeking to end their bruising trade war US trade representative Robert like Heiser said Monday this erosion of commitments by China was unacceptable and while they're not breaking off talks at this point he said that come Friday there will be terror of some place yeah