US Politics

Trump Wrangled Xi Like a Boss! China’s Xi Pledges to Open Economy, Cut Tariffs on US Products

China’s President Xi Jinping promised to open the economy and cut car tariffs on Tuesday.

This followed President Donald Trump’s hammering of the trade inequality with the Chinese. The U.S. trade deficit with China was $375 billion in 2017.

President Trump tweeted this out on Sunday.

On Monday President Trump followed with this tweet on the unfair trade practices by China.

On Tuesday President Xi Jinping announced China would open its economy and cut car tariffs from the US.
Reuters reported:

Chinese President Xi Jinping on Tuesday promised to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as conciliatory amid rising trade tensions between China and the United States.

While most of the pledges were reiterations of previously announced measures, Xi’s comments sent U.S. stock futures, the dollar and Asian shares higher.

Xi said that China will sharply widen market access for foreign investors, a chief complaint of the country’s trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.

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Source(s): Thegatewaypundit.com

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