Michael Lee, the founder of UBS Financial Advisor Ryan Lynch and Michael Lee strategy weighing the market response to global trade talks and economic data this week.
chairman Donald Trump On Monday, his administration temporarily reached an agreement for low tariffs with China, while the two sides talk on a final agreement, which the President says that the Chinese market will open for American firms.
Trump said, “The biggest thing we are discussing is to open China, and they have agreed to do so, but it is going to take a little time to paper, you know, this is not the easiest thing for paper,” given that it will take time to finalize a formal version of the agreement.
“I think it would be great for our businesses if we can go in and compete and compete with China,” said Trump. “It will be a lot of jobs for China, I think at a time when they can clearly use jobs, and that is what we are talking about.”
He explained that his administration pushed for more Use of market in China For American businesses, there is a means of resetting the balance of trade between the two countries through removing non-tariff obstacles for businesses.
America, China reduced tariffs for 90 days after trade talks
President Trump said that the most important part of the deal is to reach China American companies. (Chris Claponis/CNP/Bloomberg Getty Image/Getty Image)
“We opened our country to China, they have very few restrictions, and they never opened their country for us. I never understood for me. It is not appropriate. And they agree to open China – completely. Open chinaAnd I think it’s going to be great for China, I think it’s going to be fantastic for us, and I think it’s going to be great for integration and peace. ,
He said, “China will also suspend all its non-monetary obstacles.
Trump to open American exporters using the power of American economy: Lootnic
Tariffs are taxes on imported goods that are paid by American importers, usually passing high costs to consumers through high prices. (Photographer: Michael Nagle / Bloomberg Getty Image / Getty Image)
The President said that “Mutual” tariff It was unveiled at the White House at the so -called liberation day festival on 2 April, it would be dropped from 125% to 10%, which would reduce the overall tariff on sugar imports by 145% to 30%, while China reduces its tariff from 125% to 10%.
“Yesterday, we achieved total Reset with ChinaAfter the productive talks in Geneva, the two sides now agreed to reduce the tariffs imposed after April 2 by 10% for 90 days as the negotiaters continue on the biggest structural issues, “Tram said.
“It does not include those tariffs that already are our tariffs, and do not include tariffs on cars, steel, aluminum, such as things, or tariffs that can be imposed on pharmaceuticals because we want to bring pharmaceutical businesses back to the United States,” he said.
Trump says tariffs are encouraging American investment, causing damage to China
Chinese President Xi Jinping and President Donald Trump are working on a final trade agreement. (Brendon Smiyalowski/AFP/Getty Image/Getty Image)
Trump painted Trade talks Being “very friendly” and postponed relations with China, saying that a deal would help promote the country’s economy.
Trump said, “The relationship is very good. We are not looking to hurt China; China is hurt very badly. They were closing the factories, they were doing a lot of disturbance, and they were very happy to be able to do something with us,” said Trump.
President also mentioned China’s failure to comply “Phase a” business deal He arrived at the office with the Chinese government during his first term.
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Treasury Secretary Scott Besent said in a presence at the end of last month “Kudlo” of Fox Business Network America has to “take care that they did not follow the stage one deal.”
