The Sino US Trade Dispute Escalates, The United States Willfully Taxes China'S Hard Gas Counterattack.

In from May 3 to 4, 2018, the US delegation visited China and asked for consultation after the threat of taxation.

In from May 17 to 18, 2018, the Chinese delegation visited the United States, and the two sides issued a joint statement on economic and trade negotiations.

In June 2, 2018, the US delegation visited China again. The two sides "made positive and concrete progress, and the details need to be confirmed by both sides".

In June 15, 2018, the United States government issued a list of willful taxes, and at this point the three rounds of economic and trade consultations returned to zero.

At a regular press conference held in September 6, 2018 in the Ministry of Commerce, when asked by the media, the United States proposed to levy tariffs on 200 billion goods exported to the United States, and the Ministry of Commerce responded explicitly.

In September 24, 2018, the Information Office of the State Council released the white paper on facts and China's position on Sino US economic and trade frictions.

On the evening of December 1, 2018, Wang Yi indicated at the meeting that China and the United States had reached a consensus for the first time, and stopped each other from adding new tariffs.

In May 10, 2019, the US tariff will be raised to 25% from 200 billion to $10%.

In May 13, 2019, the Customs Tariff Commission of the State Council issued the announcement of the Customs Tariff Commission of the State Council on raising the tariff rate on some imported commodities originating in the United States, reflecting China's determination and will to defend the multilateral trading system and defend its legitimate rights and interests.

Since then, the United States has also threatened to launch the relevant procedures for the Levy of 25% tariffs on the remaining $325 billion of China's exports to the US, totally ignoring the outcome of the eleven round of Sino US economic and trade consultations.

The irresponsible pressure imposed by the United States again is undoubtedly a further shadow and obstacle to Sino US consultations.

Due to this Sino US trade friction, global luxury shares opened in Waterloo on Monday.

Among them, Hermes shares fell 1.64% to 598.6 euros, the market capitalization of about 63 billion 200 million euros.

Shares of Gucci's parent group opened 3.17% to 491 euros, with a market capitalization of about 62 billion euros.

LVMH group shares fell 2.94% to 323.75 euros, with a market capitalization of about 163 billion 500 million euros.

Meanwhile, the US luxury group's share price declines are more obvious.

Calvin Klein's parent company PVH shares fell 4.38% to 114.15 U.S. dollars, with a market capitalization of about 8 billion 570 million dollars.

Tapestry shares of Coach parent company fell 5.21% to $30.56, with a market capitalization of about $8 billion 860 million.

Michael Kors's parent company Capri shares fell 4.79% to 40.73 dollars, with a market capitalization of about 6 billion 140 million dollars.

For this Sino US trade dispute, State Councilor and foreign minister Wang Yi said that negotiations are not one-way and should be built on an equal basis.

We can not expect a party to accept only the other party's request. While negotiating with any country, China must insist on safeguarding the sovereignty of the state, safeguarding the interests of the people and safeguarding the national dignity. This is the "hard gas" that belongs exclusively to China.

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