The 45th president of the United States, Donald Trump released a statement on Friday, saying that US might close a deal on trade with China. He further added that a lot of progress has been made in resolving the trade conflicts between the two countries.
Despite the positive news for a lot many countries, Trump has warned that he still might impose additional set of tariffs on the goods manufactured in China. Trump told the reporters of Washington that China is very much willing to make a deal with US.
Trump said that he had had a good discussion with China and that they are approaching to an end towards something. He further added that the deal will be fair for the world but extremely good for the United States.
Trump informed that reporters that he will be discussing on the details of the trade with the president of China, Xi Jinping when they will be meeting at the G20 summit at the end of November.
The administration of the United States has asked Beijing to make radical changes in their policies in certain areas like technology transfer, industrial subsidies. They have been asked to reduce the trade deficit of US with China which is of $375 billion.
Trump had also said that the deal would benefit China as well because it will then become fair and that will benefit it.
The positive statements of the President triggered the share market and helped to improve certain losses.
Trump has also said that if the deal did not work then the administration is all set to impose another set of $267 billion tariffs on the imports of China into the United States. US has already imposed tariffs on the goods of China which were worth $250 billion.
Source: Reuters, Telegraph
