China and The U.S. May Sign a Formal Deal by The End of March

China and the U.S. could soon end a trade deal. Beijing is offering low tax rates and other restrictions on various American products. The wide range includes farm products, chemical, auto, and other types of products. Washington also considers removing some penalties imposed against China’s goods. On Friday, the Bloomberg News reported that the final deal is in progress. Besides President Donald Trump and China’s leader Xi Jinping could sign an agreement in the upcoming week. According to the Wall Street Journal and Bloomberg, a meeting between two men could take place in March. So the U.S. and China are close to a trade deal that could remove some or many U.S. charges. While Beijing promises to buy a major amount of American products.

On Thursday, Trump said in the case of China the U.S. is on its way to do something special. But it seems like the President will walk away from the deal with China. After ending discussions with Kim Jong Un, the North Korean leader, Trump said he is always prepared to walk. Although, the summit was unsuccessful, and the president declined to sign an agreement with the communist nation’s nuclear program. Trump aid he is never afraid to leave a deal. He added it could happen with China if it did not work well. The U.S. also warned to impose taxes of 25% on $200 billion of Chinese goods, if the deal fails.

According to familiar sources, dates are not finalized for the discussion between the two leaders. The agreement is a result of previous talks which took place in February in Washington. As a part of the deal, China promises to accelerate the timetable for eliminating foreign-ownership limitations on car ventures. It promises to reduce tariffs on imported vehicles which could be less than the current taxes on vehicles. Zhang Yesui expects that the two sides will continue to hold and result in an all-inclusive and a favorable deal. Zhang is a representative for the National People’s Congress, the annual session of China’s legislature.

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