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Trade war takes first step towards agreement

trade war

U.S. President Donald Trump today made some remarks about the evolution of events on the U.S.-China trade war, most notably his announcement that he believes China wants to renegotiate with the United States to reach a trade deal with it.

The Chinese trade delegation reached out to its U.S. counterpart and confirmed their desire to conclude an agreement.

China's chief negotiator today expressed his full readiness to resolve the U.S. trade dispute through "quiet negotiations," and added his total rejection of escalating the conflict between them.

Meanwhile, the Chinese foreign minister denied today his knowledge of the telephone conversations with the United States, which President Trump said took place over the weekend.

He also added that the negotiations should be offered as a strong alternative to the escalation of tariff increases by both sides, which Beijing vehemently rejects, but will take all measures to protect its interests if the United States continues the current series of escalations.

Developments in the recent escalation of the trade war

Last weekend saw an escalation by both sides in the trade dispute, with China and the United States resorting to more tariffs on each other's exports, which in turn exacerbated the dispute between them and heightened concerns about trade war in the markets. Global.

President Donald Trump has announced his decision to raise customs duties on Chinese goods by 250 billion. 15 percent from the current rate of about 10 percent. This came after Beijing reacted in retaliation on Friday by imposing 10 percent tariffs on US goods worth $75 billion

On the other hand, it was further complicated when Us President Donald Trump ordered US companies to look for an alternative to China after its recent tariffs.

On the other hand, the U.S dollar rose today against its Chinese yuan counterpart, reaching at 09:19 GMT to 7.1473 levels, the pair opened near 7.1430 levels, while reaching a high during the session at 7.1536.

Meanwhile, Observers are waiting for compromises between the world's two largest economies to take advantage of the G7 industrial meetings, which could reduce market tensions over the dark future of trade war.

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