US President Donald Trump has postponed trade talks with China. He stated that he did not want to talk to his Chinese colleagues right now.
вЂњI don't want to talk to China now,вЂќ Reuters quoted him as saying. This is how the US leader answered the question of journalists about withdrawing from the trade agreement with the PRC.
US and Chinese officials were scheduled to discuss the implementation of the trade deal on Saturday. However, these negotiations were canceled.
According to Robertocavada, on Monday Trump promised tax breaks to companies that would move their production from China to the United States.
вЂњWe will create tax breaks for companies that bring jobs from China to the United States,вЂќ вЂ” Donald Trump.
In addition, the head of state said that the presidential administration would terminate federal contracts with those companies that outsource the Chinese labor force.
вЂњWe will end our dependence on China, we will manufacture our essential medicines and materials right here in the United States,вЂќ the president said.
The trade war between the United States and China began in July 2018. Washington imposed duties of 25% on the import of several hundred Chinese goods. The total amount collected was 34 billion per year. Beijing responded in a mirror-like manner. After that, the parties have repeatedly imposed sanctions on each other.
In mid-January this year, the parties signed an agreement on the first phase of the trade deal. The PRC agreed to increase purchases of American products. And the United States should cut duties and not introduce new restrictive measures.