China’s Latest Jab at the U.S.

May 31, 2018 01:27 PM
 
 

The verbal jousting match between China and the U.S. now has the Chinese government accusing President Trump’s administration of hurting its credibility by acting erratically on trade.

U.S. Commerce Secretary Wilbur Ross is scheduled to be in Beijing on Saturday for talks regarding the U.S.’s $375 billion trade deficit with the world’s second-largest economy.

On Thursday, China announced it would be cutting tariffs beginning July 1 on imported goods from the U.S. According to the New York Times, this action is “a modest peace offering, without really giving up much.”

There still is on-again, off-again uncertainty in the commodity markets surrounding the China-U.S. trade relations tiff, adding pressure. Joe Vaclavik, president of Standard Grain, said this could be the fuel behind this week’s selloff. 

“We’ve been back and forth with this trade war, and as recently as last Sunday, we had a truce and both sides agreed these tariffs would be no more and that talks would be ongoing,” he said on AgDay.

 

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Comments

 
Spell Check

Phil
Monnaz, AA
6/1/2018 06:18 AM
 

  Fire Mr Trump. Credibility of US government is really in a red zone. Allied and/or foes forces.. they all agree that you cannot build on the US quicksand . The world simply cannot rely anymore. "dictum meum pactum" !!!

 
 

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