trade-war-update
Trump and Xi Talks Conflicting Reports Amid Global Economic Tension
TL;DR:
- US President Trump insists active trade talks are underway with China despite Beijing's denial.
- The exact contents, timing, and significance of any potential conversation between the leaders remains unclear.
In-depth:
Trump Proposes telephone conversation with Xi - Beijing rejects proposed conversation
President Donald Trump is persistant that he is engaging in trade discussions with China. He recently spoke to Time Magazine about a conversation with Xi Jinping, China's leader, yet Beijing continues to deny that such talks have occurred.
Although Trump failed to specify the exact date or topics discussed during the call, he emphasized it was not a sign of weakness from Xi. As of now, China's Foreign Ministry has yet to comment on the matter.
Previously, the United States imposed significant tariffs on imports from China, causing fear of a looming global trade war. Despite conflicting reports, Trump expressed optimism about reaching deals on tariffs within the next few weeks.
Slightly easing tensions between China and the US, some American imports will be spared from increased tariffs of 125 percent. However, the Chinese Ministry of Commerce has been tight-lipped about a reported list of exempt items from tariffs.
For a more detailed perspective, Michael Hart, president of the American Chamber of Commerce in China, offered additional insights. He stated that Chinese authorities are requesting information from American companies regarding particular goods they import that cannot be found domestically, as they would disrupt the supply chain.
Final Thoughts: As the global economy hangs in the balance, the discord between the US and China continues to confuse and concerning economic analysts around the world.
Enrichment Data: - In July 2018, Trump imposed tariffs of up to 145 percent on Chinese goods, initiating the trade war. - China responded with retaliatory tariffs of up to 125 percent on American imports, and additional non-tariff measures as well. - The International Monetary Fund (IMF) has expressed concern over the potential negative impact on global trade due to the ongoing conflict between the world's two largest economies.
- The community policy of global news organizations should clearly clarify any misleading reports in regards to Trump and Xi's trade talks, considering the significant impact on the global economic policy and legislation.
- The employment policy of economic analysts must prioritize providing accurate and timely information during war-and-conflicts such as the ongoing trade war between the US and China, as it influences politics and general news.
- Despite Beijing's denial, the ongoing employment policy discussions between Trump and Xi on tariffs highlights the complexity of international policy-and-legislation and the politics involved in resolving conflicts.
- The employment policy of Time Magazine should ensure due diligence when publishing reports about sensitive topics like trade talks, particularly those with potential consequences for the global economy.
- In the context of the trade war, the employment policy of the American Chamber of Commerce in China should focus on collecting and disseminating accurate information about potential supply chain disruptions, influencing the policies of American companies engaged in trade with China.
