US China Trade War
US President Donald Trump’s attitude over China is softened. The US has indicated a major cut in tariffs imposed on China. This is a relief news for markets around the world. This is the reason that today the stock market has also seen a good rise. The White House has indicated that if there is a deal, the heavy tariffs imposed on the import of Chinese goods can be reduced significantly. Trump told reporters at the Oval Office, “145% is too high and it will not be so much. It will be reduced to a great extent. But it will not be zero.” He was referring to the effective tariff rates that are currently applicable to many Chinese goods.
Trade deal is going to happen soon
US President Donald Trump said that he is planning to be “very good” towards China in any business talks and if the two countries reach an agreement, the tariffs will be reduced. It is an indication that Trump is retreating from its rigorous stance on Beijing amidst market volatility. Trump said in Washington, “It will be reduced to a great extent, but it will not be zero”. Trump said that “We are going to be very good and they are going to be very good. We will see what happens.” Donald Trump says that the trade deal with China is going to happen soon.
What did China say?
On the other hand, in response to Trump’s recent comments on reduced tariffs, China’s Foreign Ministry said that the US cannot say that it wants to reach a deal with China and continues to put excessive pressure on the other side. The ministry said, “This is not the right way to treat China and this is not possible.” The Ministry urged the US to interact with China on the basis of equality and mutual profit, saying that such an approach is required to take shape to any future business agreement.
Open for conversation
However, China said on Wednesday that it is open to hold trade talks with the United States. Foreign Ministry spokesman Guo Jiakun said in a regular press conference, “We do not want to fight nor are we afraid of fighting,” he said that China will “fight till the end” if necessary.
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