US is not ready to make trade deal with China yet

US President Donald Trump and  White House officials assert that economic growth is going well. And they insist that their trade war with China is not damaging the United States. On Sunday, Donald Trump says that We’re doing tremendously well, our consumers are rich, I gave a tremendous tax cut, and they’re loaded up with the money. But he is less optimistic than his aides on striking a trade deal with China. And says that while he believed China was ready to come to an agreement, I’m not ready to make a deal yet. Donald Trump demands that  Beijing resolve ongoing protests in Hong Kong first. Moreover, he says that I would like to see Hong Kong worked out in a very humanitarian fashion, I think it would be very good for the trade deal.

US-China trade

White House economic adviser Larry Kudlow said trade deputies from the two countries would speak within 10 days. And if those deputies’ meetings pan out. Then we are planning to have China come to the USA to advance negotiations over ending a trade battle. The trade battle has emerged as a potential risk to global economic growth. Furthermore, halted talks and the threat of greater tariffs and other trade restrictions are hanging over the world economy. But  Kudlow said that the US remains in pretty good shape.

Last week, concerns about a possible US recession weighed on financial markets and seemed to put administration officials on edge. And they are concerned about whether the economy would hold up through the 2020 presidential election campaign. Democrats proclaim that trade policies are posing an acute and short-term risk.

Source: indiatoday.in

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