Latest hustle is USA impose more tariffs on china . The US Trade Representative Robert Lighthizer told the Senate Finance Committee on Tuesday that the (United States) USA is ready to impose more tariffs on China if it can not agree on a new trade agreement.
“The economic trade relationship with China has been unbalanced and unjustly unfair to American workers, farmers, ranchers and businesses for decades,” Lighthizer told the committee. “We apply tariffs to certain Chinese products and we are preparing to do more if certain problems can not be solved satisfactorily.”
negotiations between the two nations are expected to resume when Trump and Chinese President Xi Jinping meet at the G-20 Summit in Japan next week.
For months, the two largest economies in the world have been involved in commercial disputes that have put financial markets to the limit.
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The markets immediately rose to that news. Earlier this year, President Trump announced tariffs on $ 250 billion dollars in Chinese products. The Chinese retaliated with an anti-counterfeit duty of $ 110 billion on US products.
“We have an untenable situation with China that we should have addressed, frankly, a couple of decades ago,” Lighthizer told senators. “It’s a long story of them violating intellectual property rules that go forward and make promises and do not keep their promises.
WASHINGTON – President Trump’s trade war is paralyzing business investment, confidence and trade flows around the world, a development that foreign leaders and business executives say is worsening the global economic slowdown that was already underway.