US President Donald Trump has dampened hopes that the trade dispute with China could be defused quickly and sustainably. No agreement exists in the framework of the envisaged partial agreement with China to cancel the existing punitive tariffs, said Trump. China would like to do this. The country is more interested in a deal than the United States, said Trump.
In October, Trump announced a general agreement on a partial agreement in the trade dispute and promised to sign in mid-November. China's statements on Thursday gave the impression that both sides agreed to gradually withdraw the existing punitive tariffs based on the partial agreement.
Tariff reduction is "an important condition for an agreement," said Beijing Ministry of Commerce spokesman Gao Feng. Later, a US government official stated that both countries had agreed to reduce tariffs in a first phase of a trade agreement. Stock markets were pleased to respond to the reports. After Trump's comments on Friday, however, the New York Stock Exchange gave up.
The commercial dispute has led to a slowdown in economic growth in both countries. The global economy is also slowing down. Both sides have overwhelmed each other with ever new punitive rates, while they are discussing a trade agreement in parallel.
Trump now demanded that the partial agreement be signed in the United States. As a possible location for a joint signature with Chinese President Xi Jinping, he again called the rural state of Iowa. There, in February, the first primaries are held in the American presidential election campaign.