Both countries officials are trying to get towards signing a trade deal, which is quite vital for both countries running businesses. A recent report is coming from the White House, which shows that the US might not put tariffs on Chinese goods and services from December 15, which was supposed to happen. Earlier, Trump mentioned that the US government would start putting extra tariffs on Chinese goods and services worth more than $165 billion from December 15.
However, since both countries’ officials are coming together for trade negotiations and drafting the first phase of a deal, there is a high probability that these new tariffs might get postponed. However, Trump hasn’t announced this officials’ meeting, and it’s not been officially verified yet. Earlier also, things like this had happened when both country’s officials came together trying to solve the ongoing issue, but nothing good came out of it. Economic advisors from White House said that there are no fixed deadlines for this ongoing trade deal negotiations.
President Trump earlier mentioned that the US government would try to consider reducing tariff rates if the Chinese government agreed to purchase farm products at an agreed amount. Some experts said that if the ongoing trade negotiations don’t go as they have planned by US officials, then Dec 15th trade tariffs are still on the table. Trump earlier mentioned going forward and signing a trade deal, which will be fair, according to the US government. However, if the Chinese government doesn’t agree with the terms, then they might have to face another round of high rate of tariffs from December 15. Extending tariffs rate is not a long term option for both countries officials if President Trump thinks it’s not benefiting the US at all. Now only time will tell whether China will suffer more, or they will sign a trade negotiated agreement with the US by agreeing to buy the farm and related products.