A recent report claimed that US President Donald Trump will meet with Washington trade advisers to discuss the imposition of tariff rates on Chinese goods this coming December 15, 2019. The report also anticipated that Trump and his advisors would also tackle affected markets that may experience the negative impacts of the China-US trade war.
According to Reuters, Washington officials had been deciding on the talking points come to their meeting on the China-US trade war and what the effects of the tariff hike would do to the US economy. Before the allotted meeting, US officials such as trade representative Robert Lighthizer, White House advisers Pete Navarro and Larry Kudlow, and US treasury secretary Steven Mnuchin have been calculating the effects of the $160 billion tariff rates to China and US trade relations.
The report indicated that the report would be a debate between the US officials. The senior trade advisers would present complex views about the China-US trade way. However, their concerns and opinions may only be decided upon by Trump. It was also raised that the decision to debate on the matter was in response to a possible financial market breakdown once the tariff rates would be applied. It was also mentioned that the US and China are two of the largest economies of the world and that the a trade war would affect both their national territories and the global economy.
It was also presumed that the meeting was set days before the December 15, 2019 deadline for the president to decide whether the the imposition of tariff rates on Chinese imports would be suspended or continued. The decision thereto was said to be an indication as to whether both countries can reach an agreement and complete phase one of the trade deal.
A source told the reporter that players in the market are expecting the US to raise the tariff rates by Sunday. The source also revealed that the US is in a dilemma about imposing the tariff rates and that Trump wants to review the alternative courses and effects of the the decision before officially imposing them.
US senior officials were also reported to be discussing the China-US trade war and have been arguing about its effects on the US economy. Another source claimed that previous tariff rates had little to no effect on the US economy.
In other news, South China Morning Post reported that a ceasefire on the China-US trade war could improve the global economy by 2020. It was also reported that some people believe that a truce on the trade war is underway before the tariff rates kick in by December 15, 2019.
