President of China, will met US officials to improve relations
Between the long-running trade war, US top officials will meet with Chinese President Xi Jinping. Earlier on Thursday, a high-level meeting between the two countries started on the trade front. But no progress has been announced. In such a situation, now everyone's eyes are focused on meeting the US officials and the Jinping.
Before the meeting on Thursday, US President Donald Trump had said that mutual negotiations on business issues with China are doing well. Trump has postponed its plan to take new action of higher import duty on imported goods from China and has given time to negotiate business related issues with the negotiation. They have kept it till March 1. Trump had also said that if there is a lot of progress in the negotiations on the trade front, then that time can be extended.
The Trump Government had postponed the suspension of a new charge against China suddenly in December. Earlier, the US announced an increase in duty on goods worth $ 200 billion imported from China. Together, the two countries have already raised fees on different types of goods of $ 360 billion. If the two sides fail to resolve the differences before March, then the US will increase the existing 10 percent tariff on Chinese products to $ 25 billion, up to 25 percent. In this way, the dispute will reach the next level.
Due to the trade war between US-China, the International Monetary Fund (IMF) last year warned that this would make the world pale. The IMF described the trade war as dangerous for the global economy.