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China's tariffs will not go up if the US extends the trade agreement deadline



P resident Trump revealed on Friday that he is still a laureate, a moniker who inspired a legion of superhero memes, but suggested that he be willing to pull some battles with China if that means he finally have to finish a trade.

A major trade agreement, he stressed in a news meeting at the Rose Garden, "better than any agreement that ever dreamed if possible."

Dealers who have worked with Chinese President Xi Jinp's government at the end when Trump agreed to halt hostilities in a trade war between the world's two largest economies in December, are closer to a comprehensive trade agreement than ever before, he said. .

If they cannot complete their work by March 1

, the deadline after which Trump once said he would double the tariffs of $ 200 billion of Chinese shipments to 25 percent and add duties to $ 267 billion more of the country's import, he may be willing to wait a little longer.

"It is possible to extend the date," he told reporters. "And if I do, if I see that we are close to an agreement or that the deal goes in the right direction, I would do it with the same rates that we now charge. I would not raise rates." 19659002] It would be a Wall Street ointment that withdrew from record highs in 2018 when the president introduced a protectionist strategy that included not only Chinese taxes but double-digit duties on steel and aluminum and the threat of tariffs on cars and parts .

Economists and business executives warned that taxes would push up prices and harm consumers whose expenses account for about two-thirds of the US $ 20 trillion's economy. While few argue that China has treated the United States unfairly, restricting access to its markets and requiring access to business secrets from companies seeking to do business there, they consider using tariffs as a remedy may prove more harmful than the original problems .

"The financial markets remain somewhat on the verge of a number of risks to global growth, of which the increased protectionism is only one," said Shawn Golhar, an economist with Barclays, who suggested additional tax risks that damage business and consumer confidence, creating features on growth that have generally been a bright place for the White House.

"Not surprisingly, Trump probably seems to" build more land "when the March 1 deadline runs out, and prolong negotiations between the United States and China for another 60 days," until May 1, "said Chris Krueger, an analyst at Cowen Washington Research Group, which has tracked federal policy for the past four decades.

It is beneficial for President Xi's government, which can bet on a more receptive white house, if Trump's campaign for another period does not overcome an approval rating that routinely averages 40 percent or less.

"Everything that kicks the new deadline closer to the 2020 elections needs to be welcomed in Beijing," Krueger said, arguing that it continues to play the long game far better. "


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