Donald Trump says that U.S. is nearing a deal with China
An epic trade deal is nearing with China. These are the remarks of Donald Trump.
He said that a deal is imminent with China in the next four weeks as both the countries have agreed on some of the toughest points.
He also said that some sticking points are also that could become talking points between the two countries.
The Chinese state news agency, Xinhua has claimed that President XI has also reciprocated the optimism as well.
Both countries are in talks with one another since December to end the trade war that also has consequences on the global economy as well.
Mr. Trump was speaking to the media from the White House before his meeting with Chinese Vice-President Liu He.
He has called this the Grand Daddy of all deals.
The points in which both the countries will have reservations include how fast to roll back the tasks and the method in which the deal would be enforced.
The conflict arised when China and United States decided to impose tariffs on each other products that amounted up to billions.
Donald Trump may be optimistic about the deal been happening but there are mixed signals about the ‘Grand Daddy’ deal happening.
America accused China of stealing Intellectual property from the American companies to favor the domestic industries.
While China accused U.S. of starting the biggest trade war in history.
Stakes are high both the countries. If the deal is not signed by both China and United States, tariff rates could rise for both countries’ products.
United States has already imposed tariffs on $250 billion worth of Chinese products and China has also imposed the duties on $110 billion worth of American imports.
China and America are not the only stakeholders in this agreement. Their actions will have serious consequences on the global economy and growth as well.