United States announced the imposition of $ 50 billion tariffs in Chinese goods by revising a tariff list of 800 products. President Trump is also getting ready for a second phase and a second list of $100 billion this time.
Tag: trade war
Strong words, tense and anger highjacked the 2018 G7 summit. As analysts expected US allies fought against Trump’s decision to impose tariffs on imported steel and aluminium from EU, Canada and Mexico. Trump abruptly withdrew support for a joint G7 communique, after G7 summit, for the first time in G7 history.
Although the G7 summit official agenda does not explicitly mentions it, trade war, US tariffs and climate change will lead the talks. Recently Trump decided to impose 10% and 25% tariff on imported steel and aluminum, respectively, from EU, Canada and Mexico. The response on the part of once US allies was instant. Such differences on core issues may result to absence of the usual joint communique for the first time in G7 history.
Did Trade Talks hit a deadlock? U.S. President twitted that U.S.-China trade talks are “moving along nicely”, but any deal would need “a different structure”. This tweet, with no further explanations, cast a shadow over ongoing negotiations with China.
Trade war between China and USA is finally “on hold”. A win-win business cooperation seems to begin between the two largest economies of the world. At least this was what Chinese Media supported in response to those implied that China gave in to US pressure and threats.