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
US media reports said that Jeffrey Epstein signed a will two days before killing himself
Faye Dunaway, an Oscar-winning actress, has been charged with discrimination. An assistant accused her of
Donald Trump, president of the United States, has urged his Chinese counterpart, Xi Jinping, to
The fear of economic recession has been mounted after the signs of the global economic
Health, safety, national security and other factors have delayed the imposed tariffs on Chinese imports
The administration of President Trump has made changes in the application of the Endangered Species
The US government has issued the approval of continued use of cyanide bombs to kill
Danny Trejo, a Hollywood actor, has helped to rescue a baby from an overturned car
Donald Trump has visited the sites of the mass shooting event in Texas and Ohio.
The China-US trade war rhetoric doesn't seem to step down as tensions are escalated further