US President Donald Trump today exuded confidence about the future of the US and China, saying China will ease trade barriers "because it is the right thing to do".
US President Donald Trump today exuded confidence about the future of the US and China, saying China will ease trade barriers “because it is the right thing to do”. The US, the world’s largest economy, has a trade deficit of almost USD 500 billion with China, the world’s second largest economy. The tensions are raising the spectre of a tit-for-tat trade war between the world’s two largest economies.
“China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries,” said the US President. Calling Chinese) President Xi Jinping a friend, Trump said.
“(Chinese) President Xi (Jinping) and I will always be friends, no matter what happens with our dispute on trade,” Trump said in a tweet on Sunday.Trump, earlier, sought USD 100 billion in additional tariffs on Chinese products. This is in addition to the proposed 25 per cent import tariffs worth USD 50 billion on some 1,300 Chinese products being imported into the US.
China retaliated by announcing similar import tariff on American products. Trump said his latest decision for additional tariffs was in response to China’s retaliatory action.