US – China trade negotiations are in the focus of attention again
Dear traders,
The attention of market players is focused on new developments on the front of the trade conflict between the US and China. On Friday, China announced that it was preparing an introduction of 5-25% of duties on American goods worth $ 60 billion.
This was a response to the plans announced by the Trump administration to impose duties on Chinese goods valued at $ 200 billion on Thursday.
Neither side is showing any signs of backing down, which increased fears that the two largest economies of the world are approaching a full-scale trade war that could shake the world economy.
The Chinese government’s top diplomat, State Councilor Wang Yi, said on Saturday the response by Beijing to U.S. trade measures were necessary and legitimate.
At the same time, US President Donald Trump in a series of posts on his Twitter on Saturday said that his strategy to introduce high duties on Chinese goods working far better than anyone ever anticipated. These statements led to a sharp drop in quotations on the Chinese stock market.
Trump also said that China has appealed to the US to resolve the trade dispute, but has not provided any details of this appeal.
The US and China have already implemented tariffs for $ 34 billion worth of each other’s goods. Washington plans to introduce additional duties on Chinese goods for another $ 16 billion. China promised to respond to this step immediately.
Investors fear that the escalation of the trade war between the two largest economies of the world could damage global economic growth. (Investing.com)
Consider these events when planning your trading plan!
Have a good trade, Ladies and Gentlemen!
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