The trade war between the US and China is hurting the economy of the whole world, and this has led to the possibility of a global recession. However, now there are good signs in this regard. China has agreed to hold high-level talks with the US in October. China's Commerce Ministry said on Thursday that the two countries have agreed to hold talks in early October.
According to the news agency Reuters, the Chinese Ministry of Commerce has said in its statement, "Both sides have agreed that we will have to work together and take practical steps to create a good environment." The trade teams of the two countries will start talks from the middle of September ie this month and there will be high level talks in October. Earlier, Republicans of the United States of America, Steve Dennis and David Pardew, met with Deputy Prime Minister in Beijing and the chief negotiator in trade talks, Li Heu.
China has imposed an additional 5 percent duty on US crude oil. This has been the first time in this trade war that has been going on for a year, when crude has also been charged extra.
US President Donald Trump warned on Tuesday that if the trade war continues, he may take a more strict stand against China in his second term. On October 1, National Day will be celebrated in China, due to which the leaders there are very busy.
At the G-7 summit held in Biarritz, France, Trump said that he wanted to impose more tariffs on Chinese goods and regretted not doing so. He even said that he had declared Trade War as a national emergency. China strongly opposed the increase in tariffs by the US.
