Trade between the United States and its partners continues to heat up. The wars were after US Commerce Secretary Wilbur Ross announced the imposed tariffs on goods from European Union market. Ross took a trip to attend a meeting in China’s Vice Premier Liu He to delegate on the import taxes. China, however, warned not to make any deals unless President Donald Trump withdraws the announced tariffs that were proposed in billions of dollars. These substantial trade differences of opinion seem to heighten as officials in the US had predicted before Ross took his trip to China. Despite Ross whispering that both countries had discussed the terms of purchase, the talks are said to have not come into agreement.
Most of Americans, including some US officials, have accused Chinese companies of stealing technology from them. Also, there are claims that Chinese tech firms are forcing foreign companies to surrender their tech during the trade. These allegations are the leading factors to the White House’s threat to impose 25% levies on Chinese tech goods. In spite of the risks and meeting with Liu, Beijing reserves their reprisal rights. The rivalry between these two largest economies has invigorated fears on global growth including obstructions to trade-ins from other governments.
According to the Xinhua News Agency, tariff increase that has been threatened by the Trump administration will lead to delayed trade accomplishment agreed by the two trade giants. It adds that the trade negotiations ought to be based on the hypothesis unlike what seems to be like a trade war. Earlier on following talks with Washington, China had agreed to considerably swell some purchase on some products and services on May 19. The US even plans to enforce limits on visas for Chinese students. Analysts believe these technology-related levies may be applicable given accusations that have been leveled against Chinese telecom giant ZTE. Some of the legislators at Capitol Hill want a hefty fine and replacement of ZTE management officials with American citizens.
Trump’s proposed a tariff increase of up to $50 billion on Chinese goods. This has attracted retaliation on imported American goods with $50 billion of tariffs. In as much as Washington wants China to narrow its annual surplus, there is continued resistance which heats up global trade. Beijing willingness to compromise on trade is a great hindrance to its vision of being the global leader in tech. America’s technology pressures on tech policy are a reflection of the fear of China becoming their budding tech challenger. These include tactical plans like Made in China 2025.