On the U.S. side, the two Trump cabinet officials said in a joint statement that the two sides had “agreed by mutual agreement that the two countries fully expect them to meet their obligations under the agreement in a timely manner,” despite the current global health emergency. Dear Sir Please let me know what the trade war is and how it will affect both the United States and China, and let me also know what the economic and financial consequences will be for the global economy Thanks Ankunden sincerely Pradeep kumar In supporting tariffs as president, he said that China has cost the U.S. economy hundreds of billions of dollars a year because of unfair trade practices. After imposing tariffs, he denied engaging in a trade war and said that “the trade war was lost many years ago by the stupid or incompetent people who represented the United States.” He said the U.S. has a trade deficit of $500 billion a year, with intellectual property theft (IP) costing an additional $300 billion. “We can`t let this go on like this,” he said.   Former White House adviser Jim Schultz stated that “thanks to several presidential administrations – Clinton, Bush and Obama – the United States has looked naively in the other direction, while China has misled its path to an unfair advantage in the international trade market.”  The United States and China conducted mid-level trade negotiations ahead of the high-level trade negotiations scheduled for Washington in October. WASHINGTON/BEIJING (Reuters) – Major U.S. and Chinese trade agents are expected to re-engage on a phase 1 trade deal on Saturday, although China`s promised U.S. export purchases are well below schedule.
On Thursday, February 21, U.S. and Chinese negotiators resume trade talks in Washington. The next day, Friday, February 22, Trump met With Liu He in front of the media and expressed optimism about a trade deal. On Sunday, Mr. Trump announced, citing progress in trade negotiations, that he would extend the March 1 ceasefire deadline. Mr. Trump does not give a specific date for a new deadline, but he hopes Xi will travel to Trump`s Mar-a-lago station in Florida in March to reach a trade deal. May 2, 2016: In the campaign for the Republican Presidential nomination, Trump said, “We can no longer let China violate our country, and that`s what they`re doing.
This is the greatest flight in the history of the world. The statement is one of many that Trump is making in the election campaign on China`s trade practices. The Trump administration abolished tariffs, which were originally scheduled to take effect last month, and reaffirmed its commitment to reduce tariffs on $120 billion worth of Chinese goods from 15 to 7.5 percent. However, the agreement will continue to apply tariffs on $250 billion worth of Chinese goods.