US-China Trade War Update: Tensions Rising on Both Sides

That the US-China trade tensions are heating up are evident from comments being made by representatives on both sides to the media.

The two global giant containers are colliding

That the US-China trade tensions are heating up is evident from comments being made by representatives on both sides to the media. On the one hand, Trump stated in an interview with Fox News Channel that he believed that the US and China had a good deal, but China changed it, and that’s why the US reacted with the tariff hike. Trump continues to maintain that any trade deal signed between the US and China should ideally lean in US’s favor because of China’s past trade practices.

In response, the Chinese Foreign Ministry spokesman Lu Kang addressed the media earlier on Monday, stating that Trump didn’t know what he was talking about and the US seems to have had “extravagant expectations”.

The acrimony appears to be building up, especially after Trump blacklisted Huawei last week. As a result, shares of European semiconductor companies have fallen, dragging down European stock markets with them.

Kang also goes on to talk about “unreasonable interests” the US tried to achieve through “extreme pressure” during the trade negotiations. Since the last round of tariff hikes which took place on May 10, there have no developments from either side, and the next round of talks have not yet been scheduled by either party.

Where is this heading?

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers