After numerous rounds of trade negotiations, the world's two largest economies are again at odds. Making matters worse, the trade friction is now taking a toll on the world's economy as many economic indicators took a dip this week. How are businessmen in both countries responding to the escalating friction? CGTN's Li Jianhua spoke with some of those who work in the business sector from the US.

There WAS hope for the world's two largest economies to reach a consensus.

But now, trade tensions between the US and China are escalating, totally shaking that confidence.

US authorities raised tariffs on Chinese products worth 200 billion US dollars from 10 to 25 percent. In return, China vowed to raise tariffs on 60 billion dollars of US goods starting this June.

HARLEY SEYEDIN PRESIDENT, AMCHINA SOUTH CHINA "What we really want to worry about between now and then is to minimize the damage that can be done because of the tariffs and counter-tariffs, and the negative decisions being made by both sides. I think what we need to do is continuing to encourage our government to stop making unilateral actions and stop tariffs and counter-tariffs. Just sit down and renegotiate. I'm there is a happy medium that can be met."

Amongst others, US farmers are feeling the pinch. American farm products - like soybeans, meat and fruit are all suffering high tariffs.

CHARLES FREEMAN SENIOR VICE PRES. FOR ASIA, US CHAMBER OF COMMERCE "Yes, farmers are being hurt by the trade tensions. They are not selling the products they otherwise would. That's a big concern. I know the president has talked about ways to help them through temporary measures to support them through the trade war. They are also likely to open other markets like Japan for US agricultural products, which would ease some the pain they are going through. Tariffs are good for no one."

US President Donald Trump promised to buy farm produce worth some 15 billion US dollars from American farmers' hands.

Ripple effects are rattling the world's economy, as the world's major economic indicators took a tumble.

China's economy in the first quarter of this year maintained an increase of 6.4 percent, slower than last year.

GENG SHUANG FOREIGN MINISTRY SPOKESPERSON "China's economy has been growing steadily. The US's trade protectionism is having some influence on China's economic growth, but we can overcome the difficulties. We are confident we'll weather all the challenges and impacts from the outside world."

The tension is tightening as both countries refuse to compromise.

LI JIANHUA GUANGZHOU "The US and China have gone through several rounds of back and forth negotiations. The fight between the two economic giants has a major ripple effect on the global economy. Will the two reach any consensus, and how long will the feud last? No one knows for sure. LJH, CGTN, GUANGZHOU."