Inconclusive US-China Trade Talks

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
President Joe Biden Scheduled to Visit Crystal Lake, Illinois Wednesday, July 7, 2021
According to President Joe Biden’s Senior Associate Communications Director Matt Hill, the president will be
Notable Exhibitions Happening Outside Chicago This Summer
Chicago exploded with activity last week when the city reached phase 5. It's been a
Illinois construction employment numbers surges by 4,000 in April — largest growth in the nation: AGC
Illinois construction employment has largely recovered from the pandemic, with a significant surge in hiring
The Biden administration proposes far-reaching tax overhaul
President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his
Worst Cyberattack on Fuel Pipeline in US History Causes Long Lines at Gas Pumps
News Highlights of the Aftermath of the Colonial Pipeline Company Cyberattack The Colonial Pipeline transports
Construction employment stalls in April: Supply-chain challenges and workforce shortages undermine recovery
Construction employment was unchanged from March to April as nonresidential contractors and homebuilders alike struggled
Facebook Oversight Board Upholds Ban on Donald Trump
Facebook’s oversight board on Wednesday, May 5, 2021 decided to uphold the company’s indefinite suspension
FOP President Dan Hils Slams The View’s Joy Behar Comments After Columbus, Ohio Police-Involved Shooting
Sergeant Dan Hils, president of Cincinnati Fraternal Order of Police, discusses the officer-involved shooting in
Blue Angels at the SUN n’ FUN Air Show, Lakeland, Florida; First F/A-18 Super Hornet Air Show
SUN n’ FUN Aerospace Expo in Lakeland, Florida Blue Angels first F/A-18 Super Hornet appearance
Manufacturing Survey Results Showing Positive Trending
The RAEDC has released the follow-up survey in March 2021 to manufacturers which will allow