Chinese media says US President Donald Trump spoke on the phone with Chinese President Xi Jinping on Thursday. According to the Chinese Embassy in Beijing’s Foreign Ministry and the US, the call was started by Trump. According to AP reports, the stock markets were seen fast on Thursday morning, as investors hoped that Trump-Shaki’s conversation would end the current deadlock in trade talks between the two countries.
Call was on the request of White House
The Chinese government media and the Chinese Foreign Ministry say the call was made at the request of the White House. Not much information about this conversation was not made public immediately. The Chinese Foreign Ministry said on Thursday morning that the call till ET at 9 am was continuing. Trump posted on social media on Wednesday morning and expressed his disappointment over the way of interaction between the US and China. Trump wrote on social media at 2:17 am- I always like the President of Chinese, Xi, and will always, but he is very strict, and it is extremely difficult to deal with him !!!
Both countries are entangled in trade war
Since the early days of Trump’s second term, the US and China have been entangled in a strong trade war. It has a series of fees and counter -duty on billions of dollars worth billions of goods. According to the report, the Mududa tariff level on imported Chinese goods in the US is at least 30%. This is below 145% of the punitive level, which was imposed by Trump last month, resulting in a mutual deadlock and China reduced its duty on US imports from 125% to 10%.
There are indications that the tremendous impact of the new tariff is beginning. Data from the US Department of Commerce has shown that the total imports have been the biggest decline ever. The deficit with China declined to $ 19.7 billion, the lowest level since March 2020. Trump is adamant on reducing the US trade deficit with China, which is the difference between the US import and exports from China.
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