Tension in US-China trade relations
Dear traders,
According to three informed sources, in order to avoid the start of a trade war, some representatives of the White House are trying to resume negotiations with China before the July 6 trade tax will enter into force.
Thus, some US officials are trying to conclude a trade truce with China before the entry into force of duties worth $ 34 billion on Chinese goods and prevent a trade war between the two largest economies of the world.
Last week, the world’s stock markets declined after US President Donald Trump asked US sales representative Robert Lightheather to identify Chinese goods worth $ 200 billion for imposing an additional 10% of duties on them.
Beijing said that, if necessary, will apply retaliatory measures in relation to American goods.
These duties have become a new round of tension in the US-China trade relations after the announcement of the first portion of reciprocal duties earlier this month.
Washington and Beijing approached the trade war after several rounds of negotiations, as a result of which it failed to eliminate the US claims to China’s industrial policy and the lack of access to the Chinese market. The negative balance of trade between the US and China was $ 375 billion (Investing.com)
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