Daily Management Review

Trump Says Trade Officials Of US And China Will Meet In September


08/31/2019




Trump Says Trade Officials Of US And China Will Meet In September
While there would not be any delay in the implementation of the tariff increases on Chinese goods – set to take effect from September 1, there would be talks on a trade agreement between the United States and China in a face-to-face meeting in September, said the US president Donald Trump.
 
Trump also said he believed that China has become more restrained in the way it responded to demonstration in Hong Kong because of the trade talks. It should be mentioned that Trump has been flip flopping between stating positive comments about a trade deal and criticizing China for its economic policies.
 
The year-long tariff based trade war between the two largest economies of the world has seen both the countries imposing tariffs on each other’s goods worth billions of dollars. The trade war has also roiled the global financial markets and upended global supply chains, consequently slowing down the global economy. Further, uncertainty about when this trade war could come to an end has also prevented companies from implementing their long term strategies and plans. Uncertainty about when or how the dispute could end has roiled markets and complicated corporations’ long-term investment plans.
 
 “We’re going to win the fight,” Trump told reporters. “We’re having conversations with China, meetings are scheduled, calls are being made. I guess the meeting in September continues to be on, it hasn’t been canceled,” he said.
 
No date for the meeting was however been announced by the White House.
 
Fresh tariffs on $125 billion in Chinese goods imposed by the Trump administration is set to come into effect form Sunday and the US president confirmed that there would be no change in the date even as both the sides have in recent times, resorted to using more conciliatory language for each other.
 
“They’re on,” Trump said of the tariffs.
 
China’s Foreign Ministry said earlier on Friday the effective communication is being maintained by both the sides.
 
The list of Chinese goods that would come under the tariff this Sunday, on which 15 per cent tariffs would be imposed, primarily comprised of consumer products such as including smartwatches, flat panel televisions and a wide range of footwear.
 
The US Customs and Border Protection agency said that for goods in transit, there would be no grace period provided to avoid the tariffs.  
 
 “A lot of badly run companies are trying to blame tariffs,” Trump said. “It’s not the tariffs, it’s called bad management,” he added.
 
There was no effect of the tariffs on the US economy, Trump said earlier on Friday.
 
 “We don’t have a Tariff problem (we are reigning in bad and/or unfair players), we have a Fed problem. They don’t have a clue!” the Republican president, seeking re-election in 2020, wrote in a Twitter post.
 
The US Federal Reserve has been criticized by Trump for refusing to lower benchmark interest rates further to encourage the economy. On Friday, Trump said that however that he did not want negative interest rates.
 
(Source:www.reuters.com)






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