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Trade Talks Showdown: Trump vs. Xi Jingping



TRADE WAR RECAP:

  • As a recap, back on July 6, 2018, Trump set a tariff of 25 percent on 818 categories of goods imported from China worth $50 billion.

  • China implemented retaliatory tariffs equivalent to the $34 billion tariff imposed on it by the U.S.

  • On May 10, 2019, President Trump increased the tariffs on another $200 billion in Chinese imports from 10% to 25%.

  • China retaliated three days later, they announced new tariffs on $60 billion of American exports.

  • The additional tariffs from Trump on another $300 billion in Chinese goods pending, all depends on the outcome of talks this weekend.


POSITIVE OUTCOMES:

  • Tariffs put on hold for further talks.

  • Tariffs avoided completely.

  • China’s plan to purchase big-ticket imports from the US, such as agriculture and LNG. This could lower the US-China trade deficit, and pave the way for Trump to consider lowering overall tariff rates.


NEGATIVE OUTCOME:

  • Trump executes the tariffs on $300 billion of Chinese goods.

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