China relieved, US trade war is 'on hold'

On Monday, the Chinese nation praised the worth noticing dialing back of the tensions related to trade with the nation of the United States where the government stated that the agreements were in the interests of both of the nations while the state media reported that they saw it as the refusal of the Chinese nation to surrender. The lessening of the trade tensions between the two countries brought out mixed reactions from business leaders of the United States who were dealing with China. There were some who were happy to see the prospect of the damaging tariffs fade away and on the other hand, there were others who said it would be quite difficult for the United States to rebuild the momentum for the purpose of addressing what they see as the troubling policies of the Chinese nation.

On Sunday, Steven Mnuchin who is the treasury secretary of the United States stated that the trade war is currently on hold after two of the largest economies of the world gave their consent for dropping their trade tariffs while they are working on a wider trade agreement. Just a day before both of the nations of China and the United States stated that there would be continuous talks regarding the measures under which the nation of China would import more agricultural commodities and energy from the United States for the purpose of reducing the 335 billion dollars of the trade deficit in annual US goods and services.

Lu Kang who is the spokesperson for the Chinese foreign ministry spoke at a daily briefing where he mentioned that both of the countries had recognized that reaching a general agreement was good for all. Lu also said that the Chinese nation has never ever hoped for any kind of tension between China and the United States in the field of trade or any other areas. At this point of time, the Chinese media was also very quick to point out how well the country had successfully defended its interests. Mei Xinyu who is a researcher of the commerce ministry wrote on the overseas edition of the WeChat account of ruling the Communist Party's official People's Daily that the particular agreement has helped in the preservation of the rights of the Chinese nation for the purpose of development of its economy as it sees fit which included moving up the value chain.

January 16, 2022 - 03:00
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