On Sunday, President Donald Trump boasted that the United States is “winning” the trade war with China and rejuvenated his lie that the tariffs he imposed on imported Chinese goods are paid by China.
In a news conference in South Korea, Trump said, “we are winning big because we have formed an economy that is second to no one”. The previous day he also said that the trade talks with China were back on as he decided to forever suspend his threatened latest round of 25% tariffs on $300 billion in imports from China. He further added that the American companies can carry on doing some business with Huawei Technologies of China.
According to Trump at present they are collecting about 25 % on $250 billion and China is paying for it because our inflation has not gone up. The tariffs obligatory on products of China are compensated by American companies importing the products usually passed on to customers.
Even if Chinese businesses may lower their sales costs for remaining competitive in America they are paying nothing to the funds of U.S. As per the estimation of Economists the trade war is costing the companies of U.S. and customers over $3 billion per month.
Trump told that they don’t allow anybody tells you that we are paying. We are not paying at all only China is paying”. He told so because the Associated Press announced completely in a fact-check report on that statement: “Americans are paying for it.”
Other than this, the rest of the arrangements which have been discussed by Donald Trump and Chinese President Xi Jinping remain uncertain. Trump persists that China assured to purchase “great amounts” of agricultural products from the farmers of the United States. He said that a list will be given by us about what we want them to purchase. But as per the reports of Chinese Media, Trump hopes China will trade in more American goods as a division of the trade-war truce.
After the suspending of threatened tariffs against Mexico earlier this month by Trump, he said that the country had promised to purchase “large quantities” of agricultural products from the U.S. But neither American nor Mexican administrators said they know of any such deal and Trump has not referred to it ever since.