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Home / World / Trump says "there will be no tariff reduction" imposed on China

Trump says "there will be no tariff reduction" imposed on China



Chinese President Xi Jinping and US President Donald Trump talk a day before their eagerly awaited bilateral meeting at a G20 event.

Bernd of Jutrczenka | Image Alliance | Getty Images

President Donald Trump said the 25% tariff currently in force in China for $ 250 billion would not be lowered after he met and agreed with President Xi Jinping at the G20 summit in Japan, to prevent the increase of levies.

Trump agreed to resume trade negotiations that collapsed in early May, leaving the Chinese technology giant Huawei to buy products from US companies, provided that this does not pose a threat to national security.

The President agreed to provide Huawei with the purchase of US products "at the request of our high-tech companies."

Trump also agreed to increase the purchases of American agricultural products during the negotiations. He added that he was in no hurry to make a deal.

The ceasefire reached on Saturday in Osaka between the US and China was largely expected from Wall Street. Whether an agreement can be reached or not is another question.

The Eurasia Group predicts only a 45 percent chance that Beijing and Washington will reach an agreement by the end of the year. The issue of intellectual property protection continues to be an important issue in the dispute between the two sides.

Goldman Sachs said that US $ 300 billion of remaining Chinese exports to the US remains at an inch 10% is being raised, which is below the 25% rate proposed by the United States Trade Representative.

More than 600 US companies, including Target and Walmart, had asked Trump not to introduce additional tariffs and warned that such a move could cost 2 million American jobs.


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