The United States and China are pushing for a summit meeting in late April to complete a trade deal, while negotiators are still grappling over its terms and how they should be enforced.
The New York Times reported that although much remains unsettled, one thing is becoming clear: The Trump administration will continue to hold the threat of tariffs over Beijing to ensure that it lives up to whatever commitments it agrees to in the final deal.
That approach is prompting concern among American businesses that the economic damage and uncertainty caused by President Trump’s trade war could persist even once negotiations are resolved.
On Friday (March 15), a report commissioned by the nation’s biggest business lobbying group showed that the Trump administration’s tariffs are actually damaging an industry the levies were intended to protect.
The report, by the U.S. Chamber of Commerce and the Rhodium Group, a research firm, said that Trump’s tariffs on $250 billion worth of Chinese goods were eroding the competitiveness of the America information technology sector — including companies that manufacture computers, electronics and telecom equipment, as well as provide services like cloud computing, computer-aided design and customer relations.
For the full story click here.