THE FINAL DATE FOR CUSTOMS DUTIES IN THE TRADE WAR WAS DETERMINED

US Trade Representative Robert Lighthizer said the US would raise customs duties on Chinese products. Last date for trade negotiations with China to reach a point is March 1st.

US Trade Representative Robert Lighthizer said the US would raise customs duties on Chinese products. Last date for trade negotiations with China to reach a point is March 1st.

Lighthizer’s pronouncement of March 1 as a definite deadline would be an attempt to clarify the complex messages coming from the White House. Because two countries decided to break their tariffs. Also they focused on the negotiations to settle the trade dispute.

American and Chinese negotiations are expected to conclude on a positive way for customs duties.

US Trade Representative Robert Lighthizer also indicated that date as a definite date. He pointed that the US president, does not mention after March.

US President Donald Trump agreed with Chinese President Xi Jinping to suspend the new customs duties for 90 days. Referring to that decision, Lighthizer said that they designed the negotiations to raise the custom duties by the end of 90 days.

The course of trade negotiations is decisive in the view of global financial markets. Negotiations that the leaders focused on will overcome trade problems for 90 days, Following the decision, US stock markets rose in anticipation that the trade tensions would ease.

Expectations of a Positive Progress on Customs Duties are High with Continuing Concerns

However, after a consensus, the arrest of a senior executive of China’s leading company, Huawei, in Canada, demanding extradition to the US, brought concern over the trade tensions between the two countries. The Chinese foreign ministry called the US ambassador to protest the arrest.

In his statement, Lighthizer also informed the investors, who faced the fluctuation in global markets. He assured that the President wants this agreement, if it will provide security of the US technologies. Also another condition is more access with Chinese market. Otherwise they will use the customs duties. In this first statement after his commissioning for negotiations with China, Lighthizer pointed another subject. He said that, to get rid of higher customs duties, the US would like to see concessions from China in many areas in the next few weeks. Among the areas that US expects concessions are China’s buying more American goods and facilitating the US products to access Chinese market. Also US expects bringing “structural changes” to the system which requires American companies to share the technological knowledge to Chinese companies.

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