UPDATED 6:51 AM PT — Fri. Sept. 21, 2018
President Trump appears to be winning the trade war against China.
Beijing is reportedly looking at lowering import tariffs on global trading partners, which could include the U.S.
This comes after President Trump announced another round of tariffs on Monday, targeting about $200 billion worth of Chinese goods.
While Beijing has vowed to impose retaliatory tariffs, the country’s premier said it’s getting harder for China to maintain a stable economy.
“China is facing a host of difficulties and challenges in economic development,” stated Li Keqiang, the Premier of the State Council of the People’s Republic of China. “The international economic and trade environment has experienced significant changes which inevitably affect the Chinese economy — we are exploring further policies to bring out further cut in taxes and fees.”
According to reports, China could lower the tariffs as early as next month. Officials have not confirmed if the U.S. would be affected by the move.
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