Trade War Current Status:
Total US tariffs applied exclusively to China: US$250 billion
Total Chinese tariffs applied exclusively to US: US$110 billion
Trade negotiations continue to be delayed. The USA and China are now aiming for a summit in late April to complete a trade deal. Meanwhile both sides are negotiating terms and how they will be enforced.
China’s main concern is making a deal in which current tariffs might not be fully lifted. China also wants rules in place to stop the implementation of huge new tariffs in the future. The US’s concern (besides economic damage across a variety of industries) is striking a deal where China can continue their unfair trade practices.
Neither President Trump or President Jinping want to walk away from these negotiations as a loser in the eyes of their people. Both sides agree that this trade deal is something that will take time to resolve. However, some speculators fear that drawn out negotiations could result in the Trump administration accepting a weak deal rather than carry this matter into the 2020 election.
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