:max_bytes(150000):strip_icc()/GettyImages-2217667539-89cf93657ab642599b0edc28ab36621e.jpg?w=1920&resize=1920,1267&ssl=1 "U.S., China To Meet For Trade Talks Monday")
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key takeaways
- Of America and China
- The meeting can be a step towards defying a trade war that has shaken America and Chinese economies.
- Trump raised tariffs by 145% against China in April, but temporarily reduced them to allow negotiations.
Representatives of America and China will meet in London on Monday, President Donald Trump said in a social media post on Friday.
This meeting may be another step towards reducing the trade war between the world’s two largest economies. Trump posted on the truth social that Treasury Secretary Scott Besant, including the top US officials, would travel. After Trump’s announcement, Trump and Chinese leader Xi Jinping spoke on the telephone to discuss a possible trade agreement.
Earlier in the year, the two countries raised tariffs on each other imports, in which the American Levi reached 145% in April, actually an ambargo. Since then, the US and China have stopped some tariffs and have demanded to negotiate low trade obstacles.
The consequences of the conversation are important implications for the economy and American consumers as so many products on US store shelves are made in China. Retail vendors have warned that high import tax supply lines on sugar imports are threatened and high prices for American shopkeepers and vacant shelves in the coming months if they are not low.
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