When the U.S. and China are expected to negotiate
The trade war between the U.S. and China has been going on for almost two years now, and during this period a huge number of complaints were voiced, double fines and tariff increases were introduced. The confrontation between the Powers has affected the global processes and domestic policy of many states. The magnitude of the problem is growing and it is necessary to improve the situation in the near future. The heads of states also agree with this, so it was decided to resume negotiations between the US and China in order to lift a number of imposed restrictions on exports and imports.
According to Beijing, the trade war began with an increase in duties, which means that the main step towards its end is their abolition. Now the representatives of the states are intensively discussing the issues to be raised at the meeting. The successful outcome of the negotiations is important not only for the U.S. and China, but also for other countries that are experiencing the consequences of the trade confrontation.
In October, Donald Trump said that the parties had made significant progress in finding a solution to the conflict and a meeting was due to take place soon. But later, the expected date of the negotiations was changed, and experts wondered where the negotiations between the presidents would take place. They called Alaska and Hawaii.
So far, the exact date of the meeting remains unknown, but Trump convinces the public that Washington and Beijing will soon come to mutual agreement on a number of important issues. At the same time, the US president does not rule out another outcome. In the event that China does not make concessions, the United States may further increase tariffs on imports from China.
The causes of the war were primarily the U.S. trade deficit, in 2017 imports from China exceeded exports by a record 375 billion, which was not satisfactory to Washington. In addition, Trump officially announced that China was stealing intellectual property. Prerequisites for such words were the paragraph of the Chinese legislation, according to which foreign business has the right to operate in the domestic market of the country only after organizing a company with a local enterprise. As a result, Chinese manufacturers have access to all technologies and developments and can apply them to create their products.
Another accusation of Chinese policy was manipulation of currency. According to Washington, Beijing deliberately weakened the yuan to gain some benefits, for example, by making imports cheaper. Illegal currency transactions also make it possible to put pressure on competitors and reduce exports to the country because it is not profitable to do so at low prices.