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Wednesday, 20 March 20:12 (GMT -05:00)



Business And Politics News

US-China Trade War Reaches Next Level


Washington and Beijing have announced a new round of talks. International experts say that the trade war is indeed going to a whole new level.
 
International media sources say that the Vice Prime Minister of China and The U.S. Minister of Finance have recently discussed a new round of trade talks. Indeed, we can definitely talk about the next level since China seems to have proved strong in this trade war, let alone the restriction on the sales of some Apple products in China, which may result in big financial losses for Apple, some of the richest corporation in the USA and the entire world. Simply put, China has used the same weapons that American use on a regular basis in similar trade conflicts. 
 
The phone talks between the representatives of the two superpowers took place a couple of weeks ago. It's interesting to note that a couple of days before that, the American representative said that Washington would impose new import duties on March 1 if the talks with China if there's no success in the talks backed by an agreement. 
 
It looks like Beijing has now agreed to lower the duties on the import of American autos from 40% all the way down to 15%. At least this is what The Wall Street Journal claims, with reference to its sources. According to them, the Chinese representative informed his American peer about this during the mentioned phone call. However, it's not specified when the decision is due to take effect.
 
At the same time Donald Trump tweeted about "very productive negotiations" with China going on at the moment. He also asked the subscribers to watch closely his tweets for some important news and updates. So, basically, we can say that the conflict has definitely reached a whole-new level. However, it's not about America's ultimatum and China's concessions. The Chinese did really managed to show the Americans that they are not going to give up. Also, CHina showed the USA that they can use the same weapons, including claims related to violating intellectual property rights - the current suation around Apple and Qualcomm.

 

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