The United Statesis soon going to hold talks with Chinaon trade deficit in line with the recent trade tariffs imposed by Donald Trumpadministration.
PresidentTrump took to his Twitteraccount to inform about the US delegation heading towards Chinato hold talks on the trade deficit between the two countries.
"Delegation heading to Chinato begin talks on the Massive Trade Deficit that has been created with our Country. Very much like North Korea, this should have been fixed years ago, not now. Same with other countries and NAFTA...but it will all get done. Great Potential for (the) USA!" Trump tweeted.
Trump on April 8 called upon Chinato "end unfair trade take down barriers and charge only Reciprocal Tariffs." He further asked to only charge the reciprocal tariffs while claiming that the US is losing billion dollars due to unfair trade regime.
He further mentioned of the constant trade deficit with North Koreadue to the on-going sanctions by the US to curb the trade activities.
Trump re-emphasised his dislike for North America Free Trade Agreement (NAFTA) as part of which Canada, Mexicoand the United Stateseliminated tariffs, duties and quantitative restrictions on their trilateral trade.
He had earlier blamed NAFTA for illegal immigration to the US via the US-Mexicoborder.
Trump had also called for a revised NAFTA deal as he offered to drop the 25 percent tariffs on Steeland aluminum in return for the stricter NAFTA.
Further Canadian Prime MinisterJustin Trudeauon April 6 supported PresidentTrump's call for revised Nafta Ashe praised the United States, Canadaand Mexicofor handling the National AllianceFree Trade Agreement in a significant manner.
On March 23, Trump had imposed massive trade tariffs amounting to USD 60 billion on China, in an effort to stop the latter from stealing "intellectual property" from American companies.
In retaliation to that Chinathreatened to impose a 25% Tariffon $50 billion worth of US exports.
None of the said tariffs came into effect.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)