support@headlinenews360.com
US China Slash Tariffs: After a high -level talks between the two economic superpowers of the world, the US and China put a brake on a mutual confrontation on Wednesday. Both countries announced a huge cut in tariffs up to 115 percent for 90 days over each other. Both Washington and Beijing agreed to temporarily stop the trade war, which caused chaos in the world around the world and the supply of goods at the international level was very badly affected.
After two -day intensive talks in Geneva, the US agreed to reduce the tariff from 145 percent to 30 percent on goods imported from China to 30 percent. On the other hand, China also announced to reduce the tariff rate from 125 percent to 10 percent. After the tariff cut, these new rates will also be applicable in Washington from midnight on Wednesday. This cut in tariff is considered an important step towards reducing tension between the two countries.
What came out in the conversation?
In an interview to Fox News just before the announcement in tariff rates between the US and China, President Trump said on Tuesday that Washington has prepared the entire blueprint to do a very strong trade deal with China. The interesting thing in this is that after this, China’s economy will open for American business. Trump further said that along with this, we are also trying to open the economy here for the business of China.
Earlier, Trump’s hard tariff policy had the worst impact on China’s economy. However, Beijing had also increased the counter duty to 100 % by reversing Washington. This tariff of Trump increased the troubles of those American companies which were producing in China.
Is the trade war over?
In such a situation, the question is arising that now due to which there was tension between the two countries, it is now over? The answer is- no. Despite the reduced tension between the US and China, the issues of dispute still remain. The rates of tariffs installed by America are higher than China. Washington leveled 20 percent additional charge, because Trump complained that imported chemicals from China are used to make medicines.
Washington has been accused of Phantyle Trade for a long time on behalf of Washington, which Beijing has been refusing. On the one hand, while the US has indicated further talks on this issue, on the other hand, Beijing has warned Washington to stop making allegations. In such a situation, experts believe that after this warning of Beijing, the tariff of 90 days, that time, the time can again create a situation of uncertainty again.
