The United States President Donald Trump has on Friday, announced a major trade deal between US-China could emerge in future, rather “soon”, amid reports from China over its weakened economic status because of the tariff war.
Trump has welcomed the announcement made by China and has ensured that China is willing to make a “big” deal with US and said that it could happen very “soon”. In a tweet, Trump tweeted: “China wants to make a big and very comprehensive deal. It could happen, and rather soon!”
China is now trying to back off from US tariff hikes, said Trump. Trump tweeted: “China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. U.S. is doing very well.”
China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes. U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!
— Donald J. Trump (@realDonaldTrump) December 14, 2018
Just after China announced its decision to make a big deal with the US, director of the China Automobile Dealers Association’s import committee Wang Cun said, “This is a good signal that China and the United States are on track to solve the trade war,” adding, “Carmakers might be ordering a large number of imported cars now.”
China’s latest announcement over the suspension of the planned tariff was followed by China’s first import of soybeans from US, since China’s President Xi Jinping and Trump had a meeting on the sidelines of G20 summit in Argentina.
The suspension of tariff and import of soyabean from US are the early signs of trade negotiation between US-China and the very beginning of the end of US-China trade war.
Earlier this week, over a phone call between US trade representative Robert Lighthizer, US treasury secretary Steven Mnuchin and vice premier Liu He, the cut off of China’s tariff was discussed, according to Trump administration. China is now likely to suspend over 25 percent of tariff over 144 US vehicle and auto.