Diabytes
US China tariff war News
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US President Donald Trump on Thursday expressed confidence about reaching a "very good" trade deal with China, even as the US imposed steep tariffs of up to 245 per cent on Chinese imports in response to Beijing's retaliatory actions.
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President Trump imposed a 10 per cent tariff on all countries and individualised reciprocal higher tariffs on nations with which the US has the largest trade deficits to level the playing field and protect America's national security.
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Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA).
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Trump has pushed for country-specific trade agreements instead of a one-size-fits-all policy.
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Trump is expected to speak with Chinese President Xi Jinping as soon as this week, raising hopes of a potential deal to prevent a broader trade war.
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The waivers are for tariffs imposed in July last year on $50 billion worth of US goods in retaliation for similar measures taken by Washington. Beijing has since imposed additional tariffs on thousands of goods as a bitter trade war has escalated.
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Growth in exports to China is beneficial for India as it has huge trade deficit with the neighbouring country.
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