Later this month, the US and China are expected to reach an agreement during an unplanned meeting. Although, Goldman Sachs predicted that some tariff plans previously imposed would be kept intact. An Investment bank in US said that most tariffs imposed would be kept intact till some of the conditions mentioned by US are met. Hence some tariff plans would be kept unchanged to keep the pressure on the Chinese government intact.
According to Goldman Sachs the ever growing tensions between two of the biggest powerhouse economies has grown tremendously in the past few weeks. The officials from both the nations have been meeting for several meetings in these past few weeks to ease the tensions to some extent. Sources have later told the CNBC news that these negotiations plans are in the final stage of its imposition. For the last week weeks the US and China have been involved in a grilling tit for tat trade fight, as tariffs were imposed to goods exported and imported, between both the nations. These impositions have been made in light of the allegations against the Chinese government of being involved in providing subsidies to its partners and involving themselves in the technologies that the Americans are using, posing as a threat to the national security.
After talks with Beijing, President Trump had delayed the impositions of taxes which added up to a staggering $200 billion. This would be a result of taxes increasing from a 10 percent rate to 25 percent. Trump had then said that there was substantial progress in the talks that were conducted with the Chinese government. It was then announced that, these two large economies would hold summits to plan an end to the ongoing tensions between the two nations.
The final meeting with the Chinese Premiere would be held at Trump’s resort in Florida.