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Trump says "there will be no reduction in tariffs imposed against China"



Chinese President Xi Jinping and US President Donald Trump speak at a G20 summit a day before the long-awaited bilateral meeting

Bernd von Jutrczenka | picture alliance | President Donald Trump said the 25 percent tariffs currently imposed on $ 250 billion in Chinese goods would not be cut after he met with President Jingping at the G20 summit in Japan and agreed to postpone charging.

Trump has agreed to resume trade talks that collapsed in early May and allow Chinese technology giant Huawei to buy products from US companies as long as it does not pose a threat to national security.

The president said he had agreed to let Huawei buy US products "at the request of our high-tech companies."

Trump also said that Xi has agreed to increase US agricultural goods purchases during the talks. He added that he was in no hurry to reach an agreement. The ceasefire reached in Osaka on Saturday between the US and China was largely expected by Wall Street. But another question is whether to get a deal or not.

The Eurasia Group predicts only 45% chance that Beijing and Washington will reach an agreement by the end of the year. The issue of intellectual property protection remains a milestone between the two countries.

Goldman Sachs said his main case remains a 1

0% tariff for the remaining $ 300 billion in Chinese exports to the United States, which is lower than the 25 percent rate offered to the US sales representative. More than 600 US companies, including Target and Walmart, have urged Trump not to impose additional tariffs, warning that such a move could cost 2 million US jobs.


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