Image Credits – static.politico.com
Tuesday morning President Trump said that Chinese leader Xi Jinping had agreed to meet with him at the Group of 20 summit next week. Trump wrote in a twitter post that he had spoken with Xi through telephone as to confirm the meeting. Trump conveyed that he hoped to meet with Xi at the summit in Osaka at Japan although Chinese officials had not confirmed the meeting would occur. Trump wrote on Twitter that he had a very good telephone conversation with President Xi of China. They will be having an extended meeting next week at the G-20 in Japan.
U.S. stocks as sharply higher was sent by twitter post as the investors had long concerned that a prolonged trade battle among the two nations may possibly damage the U.S. economy and harm numerous companies.
As per Xi the two largest economies in the world as China and the United States should play a leading role in promoting constructive outcomes of the Osaka Summit of the Group of Twenty and injecting assurance and strength into the global market. Trump is set to announce his revive campaign by Tuesday night in Orlando.
Tariffs are a type of tax which is paid by U.S. companies as when they import goods from another country. Those expense are often passed along to consumers in the form of higher prices. By making the foreign products more expensive, the goal of tariffs is to push companies to move production to the United States as per Trump. Trump has been used tariffs as a key tool in both economic and foreign policy. He threatened to impose a 10 percent tariff on all goods entering the United States from Mexico, two weeks ago but, Mexico settled to discuss new efforts to stem a surge of migrants at the border and Trump without letting up postponed the import penalties.
White House has been attacked by a number of Republicans for relying on tariffs as a way to push foreign countries to amend their behavior, alleging that he is efficiently creating new taxes on U.S. businesses and consumers. Although Trump has called himself “Tariff Man” and said that he uses the tariffs as a way to apply influence on foreign leaders to punctual concessions.