US President Donald Trump informed about his expectation of holding a “ signing summit” with Chinese President Xi Jinping to stamp a trade deal, since as all the negotiations are in the “advanced stages”.
The comments spirited the global stock markets since they ensured the controversy will not wheel instantly, preventing a bigger impact on the global economy. Mentioning the progress in the four days of discussions, after the working of the officials through the weekend, the US President extended the deadline of 1st March, suspending for recent sharp increase n tariffs on $200 billion in Chinese goods.
The US President told he assumed the discussions to reinstitute rapidly and “ we are going to have another summit ” with Xi.
The President told in a meeting with the US governors, “ We’re going to have a signing summit, which is even better. So hopefully we can get that completed. But we’re getting very, very close,” he said at a meeting with US governors”.
In the last week, the US President expected to meet with Xi at his Mar-a-Lago resort in Florida sometime in March.
After swapping penal tariffs on more than $360 billion in total bilateral trade, US President and Chinese President announced a treaty in December agreeing to withdraw the further tariffs or reprisal for 90 days. The United States was hanged to more than double tariffs on the most recent and largest dealing of Chinese exports.
The US President wrote, “ Relationship between our two Countries is very strong. I have therefore agreed to delay US tariff hikes. Let’s see what happens?”
He also commented in the discussions with the state leaders to expect “very big news over the next week or two ”
The worldwide officials and economists have been observing the negotiations carefully as the trade war hit the profits of the company escalating the prices for the imported goods and cutting sales for the exporters, which could grab the development if it is not resolved.