Pause or Peace for the Trade Wars?

Are we getting close to the China trade deal? China says it’s “confident” of reaching a deal with the US and Trump expressed optimism.

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Total Votes : 3

Scroll down to see how people across America voted.

As we all know, we are in the midst of a trade war with one of our biggest trading partners, China. However, is this war coming to an end?

Since President Trump imposed tariffs on $200 billion worth of Chinese goods on September 24th, tensions have been less than friendly. Yet, despite these tensions, business between US and China is on the rise. According to CNN, Chinese exports have increased almost 16 percent in October compared to October in 2017. It may be due to the Chinese currency (yuan) that has slumped 10 percent compared to the US Dollar, making Chinese goods more competitive. However, analysts predict that this growth won’t continue. The imposed tariffs are set to increase from 10 to 25 percent by the end of the year, and exporters are taking advantage of the current lower tariffs.

Just how much of a partnership do we have with China? Last year alone, the US imported $500 billion worth of Chinese goods. With such a large role in our market, European investors are starting to worry. According to The Washington Times, the US stock market plummeted 3 percent on December 4th. The markets were also “rattled by Mr. Trump’s comment that he is a ‘tariff man’” and his threat to hit China with more tariffs if the negotiations didn’t go accordingly.

These negotiations between President Trump and China’s President Xi Jipeng were set to take place on December 1st at the G20 Summit in Buenos Aires, Argentina. Despite what many people believed, The Washington Times reports that the meeting went well, with President Trump and China both releasing hopeful statements.

In a statement from the Chinese government, it said that they are “confident in implementation” and will “actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map.”

Trump tweeted, “Very strong signals being sent by China once they returned home from their long trip, including stops, from Argentina. Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting. ALL subjects discussed!”

However, Curtis S. Chin, Asia fellow at the nonpartisan Milken Institute and a former U.S. ambassador to the Asian Development Bank, warns against celebrating just yet. In a statement to The Washington Times, Chin argues that the negotiation is “more of a pause than a breakthrough… As with all agreements with China, the devil is in the details and in the follow-up. Too often, Chinese promises of liberalization and reforms have been followed by delays and reinterpretations of past commitments.”

Even Moody’s Investors Service predicted that U.S.-Chinese relations “will remain contentious.”

Are we at the end of the trade war? Or have we just started? Read the full story from The Washington Times here.

Here’s how people on the Zip app are weighing in on this all over the country!

Are we getting close to the China trade deal? China says it’s “confident” of reaching a deal with the US and Trump expressed optimism.

74% Very close
26% I don’t believe it
77% Very close
23% I don’t believe it
69% Very close
31% I don’t believe it

Very close

I don’t believe it

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