Business

US-China alliance outlasts healthy says US President

Although there has been an entangled trade war, The US President states that the alliance with China would outlast healthily.

Donald Trump says the alliance between Washington and Beijing will remain though it surpassed a deadline on Friday. Following which, the US increased tariffs to 25% from 10% on goods from China.

The US increased tariffs to 25% which earlier was 10% on goods imported from China. China reacting to it said, We aren’t happy with the US action and hope the country would take necessary actions.

But then, as well, Beijing is prepared to sit for further negotiations on Friday, to have fair and effective talks.

Currently, Trump’s governance had withheld to increase the tariff on goods imported from China, which values around $200bn (£153.7bn).

In Donald Trump’s words about the negotiation

Pointing the tariffs executed on Friday, Mr. Trump said a process has been initiated to place the full 25% tariff on an additional $325bn of goods imported from China.

He said, the tariffs thus charged will be utilized to purchase US agricultural goods, which eventually will be used for charity.

Well, Trump tweeted saying, based on the result of future negotiations, the tariff could be withdrawn or left the way it is.

Previously, the US president stated that he was in “no hurry” to enter a trade agreement after the two day-bilateral discussions.

It just happened all of a sudden, that the US and China seemed to be near to ending months of pressures over trade settlement.

Critics reflecting on the issue on Twitter answered saying, it is not China who will pay the taxes, but US importers, and eventually its purchasers.

About the author

Esther Smith

Esther Smith

Esther has worked as a journalist for a print-based magazine for 2.2 years. She is an MBA from a reputed university. She brings together relevant news pieces from various industries especially Business.

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