China Urges U.S To Stay Away From Brink

China Urges U.S To Stay Away From Brink

Beijing , March 22- Chinese president Xi Jinping yesterday advised his US counterpart Donald Trump to stay away from brink as the Trump administration recently announced to impose tariff upto $60 billion on Chinese goods. This turbulent atmosphere has become a matter of serious concern of financial markets all over the world. The investors have become disillusioned about the market situation. Experts feel that if this situation persists it will be dangerous for the world economy. The Chinese president recently told the media that China was not in favour of a trade war but if the situation demands it would prepare itself for one. The US president also described China as a friend and said the USA would like to open doors in front of China for discussions.

Chinese Commerce Ministry recently announced a tariff hike in two steps . In the initial stage it would increase the tariff of 15 percent on 120 products including steel pipes, dried fruits , wine worth $977 million and in the next stage 25 percent on $1. 99 on Pork and recycled aluminium. China is also a big market for the fruit growers of California, Michigan and other states and hence president Trumps decision of tariff hike will have a negative upon them . Hence China advised the US president to change his decision for the sake of a healthy bilateral relationship between the countries.

by TNBC Staff Reporter on March 23, 2018

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