The US-China trade war continues

trade war

Gao Fang, Ministry of Commerce spokesman on Thursday said that the Chinese government emphasized that the U.S. must remove tariffs for the two countries to reach a final agreement on trade.

According to a CNBC translation, Gao said in Mandarin in a weekly conference that the position of China and its principle and goal for the China-U.S. trade negotiations have never changed.

He further said that the ultimate goal of both of the government is to end the trade war by negotiating and to cancel all the additional tariffs imposed, which is good for China, the U.S. and the world as well.

The two economic giants have been applying tariffs on billions of dollars’ worth of goods from the other for more than a year, with each country.

After the meeting, the U.S. said it would suspend a tariff increase on Chinese goods that were supposed to take effect on Tuesday this week, the eventual discussion of trade talks between the world’s two largest economies ended late last week in Washington, D.C.

U.S. President Donald Trump said that China agreed to a very substantial inception phase deal, which will be written over the next three weeks. He added that the deal would be addressing intellectual property and financial services concerns, with Chinese purchases worth $40 billion to $50 billion U.S. agricultural products.

The confirmation was not received by Gao on Thursday but he assured that Chinese companies would increase their purchases of U.S. agricultural products, following the Chinese market needs and market-based principles.

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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