US China Trade War: March 1 is the expected deadline for mutual deal

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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.

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