Trump Says 'A Big And Very Comprehensive Deal' With China Could Happen 'Rather Soon'
- 5 years ago
President Trump on Friday announced that China is ready to make a “big” deal on trade.
President Trump on Friday announced that China is ready to make a "big" deal on trade.
"China just announced that their economy is growing much slower than anticipated because of our Trade War with them," Trump said via Twitter. "They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!" The tweet comes amid good and bad news regarding the trade war and its effects. On the upside, China has resumed purchases of US soybeans, albeit in much smaller quantities than it had in the past, notes the BBC. While the amount may not be enough to spare US farmers from the impacts of the trade dispute, it is seen as a positive first step. China has also agreed to temporarily drop the 25% tariff it placed on American-made cars, a change that will go into effect on January 1. Despite signs that the trade war is deescalating, China's weak economic data and uncertainty about its future growth continue to create instability and downward movements in the markets. The South China Morning Post reported on Thursday that negotiations may prove tricky due a surge in nationalism and the pressure that puts on the Chinese government to make necessary concessions without appearing weak.
President Trump on Friday announced that China is ready to make a "big" deal on trade.
"China just announced that their economy is growing much slower than anticipated because of our Trade War with them," Trump said via Twitter. "They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!" The tweet comes amid good and bad news regarding the trade war and its effects. On the upside, China has resumed purchases of US soybeans, albeit in much smaller quantities than it had in the past, notes the BBC. While the amount may not be enough to spare US farmers from the impacts of the trade dispute, it is seen as a positive first step. China has also agreed to temporarily drop the 25% tariff it placed on American-made cars, a change that will go into effect on January 1. Despite signs that the trade war is deescalating, China's weak economic data and uncertainty about its future growth continue to create instability and downward movements in the markets. The South China Morning Post reported on Thursday that negotiations may prove tricky due a surge in nationalism and the pressure that puts on the Chinese government to make necessary concessions without appearing weak.