The trade war between the two big nations has become a topic of discussion for every country because every news relating to these two countries is affecting the global economy. The recent report states that China has decided to increase its annual imports from the USA and the country is planning to buy the US made products for six years. The sources state that the Chinese officials are planning to make this decision and they are even thinking of reducing the tariffs on the US made retails products which has got a good demand in its domestic market. However, experts believe that this move will cost China a significant amount of money because if China decided to increase its import from the USA, then the country’s trade surplus would be reduced to zero by 2024.
A few days ago Chinese officials released their export and import growth report in which it’s been stated that China’s export sector gained more than $323 billion of profit by sending its goods to the USA and now the country is thinking to reduce this product in order to end the trade war which is sinking Chinese economy down. US officials have already started to talk about lowering the tariffs on Chinese goods due to which the US stock market performed well which states that the country’s financial market is highly volatile to such type of news. The trump Administration has always been hard on China because it has already put lots of sanctions on Chinese companies like Huawei.
The incidents like this show that both countries are in the mood of ending this trade war but none of these countries have given any kind of official statement regarding stopping this trade war.