With the expiration of December 15 just around the corner for the application of more tariffs to China for 156,000 million dollars, Donald Trump announced Thursday the United States is "very close" to a "big deal" with Beijing.
"We are VERY close to a GREAT AGREEMENT with China. They want it, and so do we!" Tweeted the president, whose government plans to impose new tariffs on Chinese products, such as electronics and sportswear, on Sunday in the framework of fierce trade war between both powers.
The enthusiasm of the president caused a rapid recovery in the New York Stock Exchange, which had begun the day in red.RELATED
Getting VERY close to a BIG DEAL with China. They want it, and so do we!
– Donald J. Trump (@realDonaldTrump) December 12, 2019
Beijing said Thursday that negotiators in the two countries maintained "close communication" without further details.
Tensions between the two countries have already taken 19 months, in which both imposed additional tariffs on hundreds of billions of dollars in annual bilateral trade.
The possible announcement of a trade agreement with Beijing in the coming days would allow the Republican president to brag about his negotiation skills and show himself as a winner, before the accusation in the House of Representatives for the case of Ukraine, which is expected next week. , and facing the elections next year.
The White House has not given details about what the "grand agreement" referred to by the US president means.
Washington and Beijing are negotiating a preliminary agreement under which China would increase purchases of US agricultural products. In return, the United States would give up new tariff increases on Chinese products scheduled for December 15.
The threat of the United States is to impose a 15% tax on Chinese exports of 156,000 million. China had said it would respond with a 25% tariff on US cars and a 5% tariff on vehicle parts, taxes that were suspended earlier this year as a gesture of goodwill.
But the agreement, announced as imminent for several weeks by the Trump administration, takes time to materialize.
The trade war, which affects Chinese export-oriented companies, now threatens the growth of the Asian giant. In the third quarter, the expansion fell to 6% year-on-year, its lowest level in 27 years.
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