USA – China Trade Deal in Doubt, Says Trump, USA is not Ready
US-China trade war seems to be continued, as the USA – China trade deal in doubt because Trump says, “The USA is not ready”. President Trump further added that he might cancel talks set for September. He told the reporters in the White House, “We’ll see whether or not we keep our meeting in September.”
Relations between the two states were already soured during the last week when President Trump announced tariffs on the Chinese goods and products. Moreover, the US treasury department declared China a currency manipulator, after the Chinese currency lost its value in the global market. However, regarding the expected deal, President Trump said, “We’re not ready to make a deal, but we’ll see what happens, We have all the cards. We’re doing well.”
The negotiations between the two states collapsed in May this year. However, the two sides hold talks in July and another round of the negotiations was planned in September this year.
In addition to the tariffs, President Trump said that the US will not do business with the Chinese companies. His comments and remarks send US stock sharply lower, losing 250 points. The trade war between the US and China will not only affect the stock market of China and the USA but it will also slow down the global economy. As a result of the trade war between the two, both have imposed tariffs on $360 billion in two-way trade. Beijing allowed its currency to sink below the dollar and Trump accused China for, “depressing their currency”. President Trump lamented the strength of the US dollar because it puts the American businessman and manufacturers at a disadvantage and once again demanded the Federal Reserves lower interest rate to counteract it in the favor of American manufacturers and businessmen.