Chinese tech stocks slide on report Trump wants to go ahead with tariffs

US
President Donald Trump, left, and Chinese President Xi Jinping
arrive for a meeting on the sidelines of the G-20 Summit in
Hamburg, Germany.
AP/Saul
Loeb

• Chinese tech stocks slid
  after President Donald Trump reportedly OK’d hitting
  China with the next round of tariffs.
• Treasury secretary’s attempt to restart trade talks
  with Beijing and China welcomed the invitation on
  Thursday.
• China said it will not buckle to US demands
  in any trade negotiations, reported by Reuters.
• Watch Alibaba, iQiyi, JD.com, Baidu.com, Pinduoduo, Nio trade
  in real-time here.

Chinese tech
stocks are getting
sliding after President Donald Trump reportedly OK’d hitting
China with the next round of tariffs despite the two sides
attempts to extend trade talks.

On Friday, Trump instructed aides onto proceed with tariffs
on about $200 billion worth of Chinese products despite,
Bloomberg says, citing four people familiar with the matter.
The news comes just two days after Treasury Secretary
Steven Mnuchin extended an invitation to Chinese officials to
restart talks. 

And while Ministry of Commerce welcomed the
invitation on Thursday, Reuters
reported that officials were unlikely to buckle to US
demands, citing an editorial published Friday by the state-run
China Daily newspaper.

As a result, Chinese tech stocks are taking a beat across
the board. Here’s the scoreboard:

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