Friday, November 15, 2019
Cancellation Phase of existing trade Tariffs between the US and China
The world's two largest economies seem to be coming towards the end of their trade war. A spokesperson for China’s Commerce Ministry said that both sides had agreed to simultaneously cancel some existing tariffs on one another’s goods. One of the important things to allow this to go through is for both countries to remove the same about of tariffs at the same time. These tariffs will also be removed in phases.
White House spokeswoman Stephanie Grisham said in an interview with Fox News that the Trump administration is “very optimistic” the two sides “will reach a deal soon.”
Economists, however, are skeptical and say a more comprehensive plan is needed to solve the problems and finally end the trade war.
https://www.cnbc.com/2019/11/07/china-says-it-has-agreed-with-the-us-to-cancel-existing-tariffs-in-different-phases.html
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This question isn't necessarily directly related with this post, but it sparked a particular interest in my mind. With all of the other economies that are being impacted by this trade war, do you think that there will be some outside help to try and resolve this trade war?
ReplyDeleteIt seems to me that the Trump administration is all words with little (beneficial) actions. Although a trade agreement was supposed to be reached later this month, it looks like this wont happen until December. I wonder what effect this will have on the stock market considering it did go up after announcements of a soon to be trade agreement were made.
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