China can provide many customer goods at economical prices than other countries can. Americans obviously, require these goods for the cheapest rates. Is this possible for chine to keep prices so low?
On Tuesday, a fresh hot talk is going to start between the United State and China in Beijing. In this meeting, they will discuss on fixing their damaging trade dispute.
US Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He will have discussions about the current scenario.
Both sides are trying to agree on imperative issues and they are having talks for months.
This trade war has a very adverse effect economy and economy has been damaging by this trade war. This situation has pointed a question mark on the multilateral system. It is challenging for the system which has overseen by the world trade for decades.
There has been careful expectation encircling the reports in recent months. Some people are thinking that both sides remain divided in some cases.
On $110bn worth of American products, Beijing has countered duties.
Tariffs on $200bn value of Chinese assets were due to more than double at the start of the year, increasing from 10% to 25%.
After damage hit in December, both countries have decided to delay tariffs and started meetings to do a deal.
United State President Donald Trump said that the US and China had agreed on a large number of the most challenging points but that we have some plans to go.
Some important points that have able to negotiate, incorporated that how a contract would be implemented, problems faced in intellectual property protection and how fast we go back to duties.
World’s economy is facing a huge impact because of the trade war happening between the US and China. International Monetary Fund chief economist Gita Gopinath said the intensification of US-China trade tautness was one factor that had committed to a vital weakened global development, particularly in the second half of 2018. The IMF decreased its growth forecast for this year by 0.2 percentage points to 3.3%.