US President Donald Trump on Monday provided some clarity of what would happen if America and Chine did not satisfy the business agreement after the 90 days.
In the Bílý House press briefing, the US President was asked if tariffs would return to 145 percent if and China could not reach us.
Trump replied, “No”.
However, he warned that tariffs were actually rising.
“But they rise significantly higher (than 30%).”
Trump also said he thought Washington and Beijing would have an agreement.
He has repeatedly stated that China wants to conclude an agreement “very badly” and avoid the worst phase of the US trade agreement in China.
“I think they want the agreement very badly.”
The US President added that China would follow the removal of non -monetary barriers and added, “I think they want the agreement very badly.”
Donald Trump can talk to Xi Jinping soon
US President Donald Trump dubbed a trade agreement with China as “overall resetting” when he said that a call with Xi Jinping could soon follow.
“Yesterday we reached a complete reset with China after productive conversations in Geneva,” Trump said. “I’ll talk to President XI, maybe at the end of the week.”
Trade agreement between USA-China
The United States and China announced a drastically reduction in their tariffs on Monday.
US Finance Minister Scott Bessnt described the weekend discussions with Chinese Vice Přezir He Lifeng and a representative of international trade LI Chengang as “productive” and “robust” with both parties expecting to meet again soon.
“Both sides showed great respect,” Bessnt told reporters.
Trump’s administration said it would reduce 145 % of the obligations imposed by imports from China to 30 %, while China said it would reduce its 125 % of American goods tariffs to 10 %. Some of the American tariffs – 24 percentage points – will be delayed for 90 days while the rest have been removed.
“They agreed to open China, fully open China. And I think it will be fantastic to China. I think it will be fantastic for us, and I think it will be great for unification and peace,” Trump said.
This announcement saw Wall Street’s power forward after solid profits in Asia and Europe, when the S&P 500 jumped about 2.5% on the store over 2 April President Donald Trump.
(Tagstotranslate) USA China
