The US and China are the two world’s largest trading centres have been exceedingly collecting tariff against each other’s goods.
Trump and Xi managed to agree upon the decision to stop the hiking of tariffs for 90 days.
China is reluctant to compromise with America regarding Innovation and advancing technologies.
President Donald Trump claimed that China’s wealth had been severely affected. The US government has inflicted huge tariff rates on products imported from East Asian Nation.
Early in 2018, the US and China, the world’s two largest trading centres have been exceedingly collecting tariff against each other’s goods. Trump raised the tax to 25 per cent on USD 250 billion of China’s products.
China too increased the tariff on USD 110 billion of American goods. Trump and Xi managed to agree upon the decision to stop the hiking of fares for 90 days (January 1).
China is reluctant to compromise with America regarding innovation and advancing technologies. Thus China has also raised tariff of US goods purchased to lessen the trade shortage and made regulatory changes for foreign investors.
Trump hopes to strike a deal with China and said, “It looks like we are doing very well with making a deal with China…no two leaders of this country and China have ever been closer than I am with (Chinese) President Xi (Jinping). We have a good chance to make a deal…it’s going to be a real deal…not going to be a stop gap (arrangement)”
