The Trump administration has sent its two top negotiators to china to help negotiate an extension for a deadline extension with Chinese President Xi Jinping. There is a dispute regarding the current tariff war which is preventing several trades that include agricultural and tech products. U.S. tariffs on 200 billion dollars worth of imports from China are scheduled to rise to twenty five percent from ten percent if the two sides do not reach a deal by March first. China has canceled several orders from the US including a large soybean order that resulted in soybean prices in Chicago to take a massive dip in value. Although U.S. President Donald Trump said earlier this week that an extension of the deadline was possible if a “real deal” was close, Kudlow, director of the National Economic Council, said the White House had made no such decision. The Chinese president said they will be keeping close contact with President and hope to meet before March first.
After reading this I was concerned for the Us and China. In my opinion this is a very important deadline to meet. The US and China are very reliant on each other for resources and high tariffs won’t help their already rocky relationship. This is also a deadline to just meet and discuss. Not an actual deadline for a set tariff. And while its hurting them from an international relationship it hurts the countries personal market as well. The soybean market in Chicago has already taken a large dip. This trend could continue for both China and the US if they don’t extend the deadline. Although Donald Trump is keeping high hopes and saying they will meet and China is saying they are keeping him in close contact, it doesn’t sound like the two countries are very confident. China hasn’t outright said they will meet and they are simply keeping him close. the two countries should be very concerned and ready for higher tariffs.