Inconclusive US-China Trade Talks

America and China are still unable to reach consensus and conclude a trade agreement advantageous for both countries. Instead, they impose additional taxes on each other`s goods.

According to economists, such trade confrontation may have a negative impact on the development of the global economy. On Thursday leaders of both countries did not try to find a compromise but instead imposed more tariff hikes on $16 billion once again. The price for automobiles and factory equipment will be going up.

The representatives of China and America had two days meeting dedicated to their economic relationship. Unfortunately, a balance was not found and fairness was not achieved. The conflict was escalated by the American side, the Trump administration imposed an additional $34 billion tariffs to the Chinese goods a month ago, Beijing made the same at the response.

American side blames Chinese in stealing their technologies and creating discriminatory market entry conditions. The Trump team introduced additional tariffs on $200 billion more of Chinese products, China responded with $60 billion of American ones.

Both countries refuse to make concessions and continue the economic confrontation.

Managing editor of the Chicago Morning Star

Related Posts
A new brutal wave of gun violence incidents has been started in California. Ten people
Donald Trump, the Commander in Chief, has cleared three service members in war crime cases.
According to the Transportation Safety Administration, flying records are going to break as the Thanksgiving
Trump administration will release a report over the vaping products next week. Donald Trump, the
It seems that the uncertainty of a US-China will prolong as Trump says that they
It seems that slowing economic growth and trade tensions don’t bother the world’s largest medical
Jimmy Carter, former US President, was admitted to the hospital for brain surgery. He was
Halloween may be scary but the U.S. economy looks less scary around the festive period.
The White House has elected Thomas Storch as a new senior trade advisor. The decision
Donald Trump lashes out at Boris Johnson for his Brexit deal with the EU. Trump