Are Trump Tariff Threats Getting China's Xi to Back Down? | NTK Network Are Trump Tariff Threats Getting China’s Xi to Back Down?

Are Trump Tariff Threats Getting China’s Xi to Back Down?

The president of China extended an olive branch to the United States on Tuesday. Will President Trump accept?

By NTK Staff | 04.10.2018 @9:01am
Are Trump Tariff Threats Getting China’s Xi to Back Down?

Chinese President Xi Jinping offered concessions on Tuesday concerning China’s trade barriers with the United States, a possible sign the cold trade war is thawing and the two major countries may avoid a costly and lengthy battle.

The Associated Press reported:

In a speech Tuesday at a business conference, Xi made no direct mention of the dispute with President Donald Trump but pledged to open China’s markets further and improve conditions for foreign companies.

Xi said Beijing will “significantly lower” tariffs on auto imports this year and ease restrictions on foreign ownership in the auto industry “as soon as possible.”

And The New York Times reported:

Mr. Xi highlighted areas where China was willing to give, including pledging to ease restrictions on imported cars by the end of the year as well as repeating open-ended promises to give foreigners greater access to the country’s financial markets — promises officials have made in past. He also pledged to strengthen intellectual property rights, addressing one of Mr. Trump’s main complaints.

The concessions may be a sign that, after $150 billion worth of tariff threats against China, the communist nation’s leader may be offering olive branches to President Trump in order to avoid a trade war.

That said, neither country is out of the woods yet. According to Bloomberg, talks to cut the U.S.-China trade deficit by $50 billion “broke down last week after the Trump administration demanded that China curtail support for high-technology industries.”

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