On November 1st, President Donald Trump said that he spoke to
Chinese President Xi Jinping amid concerns about escalating trade
tensions between the US and China. In a tweet, Trump said he had
a "long and very good conversation" with the Chinese leader,
"with a heavy emphasis on trade." He added that "those discussions
are moving along nicely" ahead of planned face-to-face meetings
at the G-20 summit in Argentina later this month.
Chinese President Xi Jinping amid concerns about escalating trade
tensions between the US and China. In a tweet, Trump said he had
a "long and very good conversation" with the Chinese leader,
"with a heavy emphasis on trade." He added that "those discussions
are moving along nicely" ahead of planned face-to-face meetings
at the G-20 summit in Argentina later this month.
On July 6, the U.S. specifically targeted China by imposing 25% tariffs
on $34 billion of imported Chinese goods as part of Trump's tariffs
policy, which then led China to respond with similarly sized tariffs on
U.S. products. A tariff on an additional $16 billion of Chinese imports
was added in mid-August, with China responding proportionately. A
further tariff on $200 billion of Chinese goods went into effect on
September 24, to which China responded with tariffs on $60 billion
of US goods.
on $34 billion of imported Chinese goods as part of Trump's tariffs
policy, which then led China to respond with similarly sized tariffs on
U.S. products. A tariff on an additional $16 billion of Chinese imports
was added in mid-August, with China responding proportionately. A
further tariff on $200 billion of Chinese goods went into effect on
September 24, to which China responded with tariffs on $60 billion
of US goods.
The US stock market had dropped after the trade war has been announced.
Technology companies sank again after Bloomberg News reported that
the US is planning new tariffs if the two sides do not make progress in
trade. The S&P 500 index has dropped 9.4% in October and is marked as
the worst monthly loss since February 2009(a period during the 2008
financial crisis).
Technology companies sank again after Bloomberg News reported that
the US is planning new tariffs if the two sides do not make progress in
trade. The S&P 500 index has dropped 9.4% in October and is marked as
the worst monthly loss since February 2009(a period during the 2008
financial crisis).
The November phone call has not marked the end of a trade war yet,
but Trump claimed he and Xi Jinping are working hard to end the war.
Do you think the conversation will mark the end of the war?
but Trump claimed he and Xi Jinping are working hard to end the war.
Do you think the conversation will mark the end of the war?
Sources:
https://www.wsj.com/articles/trump-signals-progress-on-trade-after-phone-call-with-chinese-president-xi-1541083811
https://www.cnbc.com/2018/11/01/trump-says-he-and-chinas-xi-exchanged-long-and-very-good-trade-conversation.html
https://www.nbcnews.com/think/opinion/trump-claims-he-chinese-president-xi-jinping-are-working-hard-ncna930116
https://www.scmp.com/news/article/2170768/wall-street-falls-hard-again-roller-coaster-day-after-report-us-planning-new
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