The President of the U.S., Donald Trump said on Friday that he does not think he needs to do any type of trade deal with China before the presidential election of 2020. During a mutual news conference at the White House along with the Prime Minister of Australia, Scott Morrison, Trump said that no, he doesn’t think he needs it before the 2020 election. While referencing the work of his administration on the military and economy, Trump said that he thinks people know that they are doing a good job. Whereas, China affected very severely after the trade war. They are not, and they are not being affected, Trump said.
Furthermore, Trump expresses that at this time, his relationship with the President of China, Xi Jinping is strong, but right now, they have a little tiff. Also, Trump said that he did not need a partial deal with China, moving away from his last week suggested that he would consider an provisional agreement. They are trying for a complete agreement instead of a partial deal, Trump added. The support of the president for the win-or-lose stance on the potential deal with Beijing came amid latest signs of a softening in the tensions between the world’s two largest economies.
World Markets are Nervous about the Trade War
To be sure, an agreement with China that reports forced the transfer of technology, intellectual property theft, and the United States trade deficit with China is too away from guaranteed. While the markets are still nervous about the trade dispute. Stocks turned worse Friday when the Montana Farm Bureau said that a delegation of China canceled an upcoming United States farm visit to the state. According to that Department of Agriculture of the state, the delegation of agriculture also canceled its Nebraska’s visit.
Both sides, the U.S. and China, took some positive steps towards reverse gear from their many extreme moves in the revengeful trade war as still the trade debates expected to restart in the next month. Last week China added some agricultural products of the United States like pork products and soybeans to its tariff exemptions’ list. Beijing took the step to stop new agricultural buying from the United States and probably put tariffs on recently bought products, during the last month.
According to the confirmed news on Friday, the United States is provisionally exempting over four hundred types of Chinese goods from U.S. tariffs list that Trump imposed last year. Last week, Trump tweeted that China will be purchasing massive amounts of U.S. agricultural products. Trump repeated yesterday that China is going to start to buy their agricultural goods. He added at the news conference, that’s not enough on its own. That is not what he is looking for. He has eyes on the big deal between the United States and China.