Trump: China Has Violated Agreements In Trade Talks
Trump: China has Violated agreements in Trade Talks. According to US President Donald Trump, China has violated agreements in the trade talks that the Asian country has with the US.
“They can’t do that, so they’ll have to pay,” Trump said during a meeting in Florida on Wednesday.
Last Sunday evening, Trump surprisingly declared that he would introduce higher import duties on Chinese products on Friday.
But the question was whether this was a negotiating tactic.
China still announced that the Chinese Deputy Prime Minister is travelling to Washington for further talks,
but market followers are wondering if both countries can even agree.
If Trump introduces higher import duties, China will hit back with its trade barriers.
Import rates from 10 percent to 25 percent
The US president wants to raise the rates of 200 billion dollars worth of Chinese goods,
that the US imports from 10 percent to 25 percent.
Furthermore, Trump also wants to introduce a 25 percent import tax on the rest of the import at a later date.
According to reports, an American economist wrote that it is not clear who the president was talking to in his speech on Wednesday,
but that financial markets are certainly shocked.