Washington: US Trade Representative Robert Lighthizer said that the deal to end the ongoing US China trade war is required to end by March 1 other wise new tariffs will be imposed.
Robert Lighthizer highlighted the hard deadline for US China trade war. He clarified there is a hard deadline after few days of confusion among US President Donald Trump and his advisers.
There is also a uncertainty in the global markets about the ongoing US China trade war. A few months back, the US administration officials suggested 25% tariffs on 1300 Chinese products. Technology, industrial, and transportation products were included in the list. In retaliation, China gave a strong reply by imposing tariffs on the US products such as planes, beef, soybeans, chemicals, cars, etc.
Also Read: Trade War Escalates between US and China
In 2017, China did around $370 billion trade surplus with the USA. Trump demanded that China should cut this amount by $100 billion. However, Chinese officials denied the US claims and cleared that they have no intention to cause damage to US intellectual property.