On December 4, Donald Trump announced that trade negotiations with China will run for 90 days. At the same time, the US President added that the deadline can be extended.
The American leader said that the countdown for the negotiations has already begun. The beginning point was his meeting with Xi Jinping at the G20 summit.
A working group has been formed that aims at arranging a mutually beneficial deal with China. This group includes US Trade Representative Robert Lighthizer, Secretary of the Treasury Steven Mnuchin, Secretary of Commerce Wilbur Ross, Director of the National Economic Council Larry Kudlow, and Director of Trade and Industrial Policy Peter Navarro.
Earlier, Donald Trump promised Xi Jinping that he would not raise tariffs on Chinese goods by USD 200 billion to 25% as planned before. However, the US President warned Beijing that he is “a man of tariffs” and can impose new custom duties at any moment against any country in order to strengthen the American economy.
