The trade tension between US and China is still at its peak, and now Trump administration has decided to take a big step of levying massive amount of taxes on Chinese goods and services. China on Thursday failed to provide a reasonable trade agreement to the USA also now trump administration is going to take the move about which they were discussing from last many days. Both the countries are going through a terrible trade war which is doing nothing but harm to each others economy.
The United States has made it clear that they are expecting a fair trade deal with China and if they don’t get it then they will have to take some serious steps. Now there is a further discussion going on in between Chinese vice premier Liu He and US commerce delegates. On Friday both countries officials are going to have a debate on this trade deal, but US has decided to take further actions. Reportedly US secretary Mnuchin has met with president Trump to talk about extra tariffs.
Chinese goods are going to get taxed at a rate of 25 percent and not 10 percent. President Trump said he is not like previous US presidents and believes that these new tariffs are good for United States economy. The discussion between the US and China was going well but when China decided not to agree with terms of Trump administration the trade deal stopped there. Donald Trump has always been a critic of how Chinese government works because he thinks Chinese companies are copying trade designs of US companies. Intellectual property theft is one of the main reason why both of these countries are still fighting with each other and seems like US is failing to convince China to sign a trade deal. Now it will be interesting to see whether China is going to do the same or not.