It is to be noted that US officials are visiting Beijing to put the trade war at ease after both the countries have raised the Tariff to a surprising level last year. Both powers want the settlement of the issue but they are not practicing it. Now the US is going to take a further step for the negotiation after they charge a Chinese executive in Canada for violating trade terms with Iran! War is, in fact, the American obsession with China’s economic emergence and as a competitor along with Russia in the ruling world power.
In a past summit, China had offered the high purchase of American export but they would not bear any pressure over technology initiatives as they consider it as the source of economic expansion and power too, and America refused! The USA raise the tax at $250 billion Chinese goods by up to 25%. And as response china put sanctions on $110 billion of American goods! Consequences are of no good! Now they mutually decide to postpone the tax raise for ninety days! But they don’t seem to be enough! Both countries are facing the same problems and losing their servers who are moving to other countries for better facilities and low tax rates, said UBS. Negotiation should bore fruit!
US visiting delegation members were announced on Friday by TR’s (trade representative’s) office. Hope for the best but most firms expect the war to mount, said a report.