President Trump puts a hold on Trade Meeting with China Set for September

President Trump has said “We’ll see whether or not we keep our meeting in September with China,” raising the stakes at the already intensified War trade with China. He is not ready to finalize a trade deal with Beijing and thus the September Meeting isn’t sure to happen, he cleared before leaving for a holiday to New Jersey.

Trump recently announced a new round of penal tariffs on Chinese goods although peace was made with President Xi Jinping. This has turned the tables on the deal. Beijing hasn’t taken it lying down and halted all the purchases of US agricultural goods.

Trump said, “We’re not ready to make a deal but we’ll see what happens. We have all the cards. We’re doing well.” But the US treasury has declared China a currency manipulator. This after yuan lost value in the face of the new round of tariffs.

US and Chinese negotiators met in Shanghai in late July for the first time since the trade was dissolved in May & later agreed to meet again in September but now the meeting is on hold. “Whether or not they’re cancelled, we’ll see,” Trump said. 

Both the countries have enforced tariffs on $360 billion in two-way trade. With the new tariffs announced by America, China will need to pay more on their goods. This hasn’t gone well with the country. Trump on other hand has demanded the Federal Reserve to lower interest rates. He said American traders are facing disadvantage due to the strength of the American dollars. But he is disinterested in devaluing the US dollars. “No I wouldn’t do that,” he affirmed.

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