Although in the first place US and China top negotiators discussed on removing the additional tariffs imposed to China, in a “phase one” trade deal, the Trump administration never fully agreed to these changes, with President Donald Trump stating that the two countries haven’t come to an agreement yet.
According to President Donald Trump, he hasn’t signed any trade deal with China, to scrap tariffs on Chinese goods, lowering the possibilities to find a resolution.
In light of the developments, Reuters reported that Donald Trump commented that China would like to have a rollback; Yet, the US hasn’t made any agreements.
Reaching a trade agreement is of a paramount importance as both countries would mark a development, as both of the countries are in more than a year-long trade war. Furthermore, this deal could help moderate the trade war results, that have many impacts over the global economy.
Although in the past Trump’s administration office has been optimistic about signing the trade deal with China and achieving phase one, President Trump stated that hes is happy with the situation as is, quoting that “We’re taking in billions of dollars. Assuming we’d get it … it could be Iowa or farm country or some place like that. It will be in our country.”
As for China, country’s Ministry Commerce spokesman Gao Feng, previously reported that if both countries cancel some tariffs on each other’s good at the same time, they will also make progress in “phase one” trade deal.
To conclude, investors are waiting for further confirmation of progress between the two sides, since this matter at hand plays an essential role for both of the countries economy.
