August 4, 2020

Trump believes there is "a very good chance" of reaching a trade agreement with China



The American president, Donald Trump, has assured during this early morning that there is a "very good chance" of reaching a trade agreement with China, a day before the talks with representatives of the Asian giant resume in Washington. A round that occurs days before, on October 15, the tariffs imposed on the Chinese giant increase from 25% to 30% towards imports of the second power of the world for an amount of 250,000 million dollars.

"There is a very good possibility »Trump said in the White House when asked by journalists about the next round of US negotiations. and China, which starts this Thursday. «The question is: Do I want to make a deal? And the answer is: if it's the right deal, yes, ”he added.

In his statements, the president has abounded that China "has great respect" for him and considered that to reach a pact there are only two important people: himself and the Chinese president, Xi Jinping. "China wants to reach a deal more than me … I am very happy now, we are taking billions of dollars in tariffs," he continued.

The US delegation for negotiations with China will be headed by the Foreign Trade representative, Robert Lighthizer, and the secretary of the Treasury, Steven Mnuchin; and the Chinese by the vice president, Liu He.

New rise in tariffs

The meeting will take place days before the new tariff increase, scheduled for October 15, from 25 to 30% to Chinese imports worth 250,000 million of dollars.

Last September 1 took place the last episode of the commercial war that confronts Washington and Beijing with the entry into force of the increase of 10 to 15% about Chinese imports worth 112,000 million dollars. In retaliation, Beijing launched the levies between 5 and 10% to US products valued at $ 75 billion.

Wall Street Optimism

Wall street optimism recovered this morning before the round of trade negotiations between the United States and China that begins today, closing its main index – the Dow Jones – with a rise of 0.7% and from which the markets expect solutions to a tariff conflict that lasts months.

On the controversy generated in China by a tweet this Sunday by Daryl Morey, general manager of the Houston Rockets of the NBA, in favor of prodemocracy protesters in Hong Kong, Trump lamented that the Asian country "speaks ill of the United States." "They have to solve their own situation, the NBA knows what it is doing," he said.

In fact, the blunt response given by China to the Rockets of romper all kinds of work and exchange relationship commercial with the team after the controversy after the support of Morey to Hong Kong set off the alarms in the NBA, which tries to overcome the dilemma that arises of seeking a balance between defending Morey's right to freedom of expression and the Once save the business in China.

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