Chinese Vice President Liu He, the top economic official

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While the agreement is being finalized, some published reports indicate that the United States has backed down on a series of demands regarding fundamental changes in the Chinese economy. As things stand, the US has placed tariffs on $250 billion worth of goods imported from China , while Beijing has responded with tariffs on $110 billion worth of American goods. The trade war began in March 2018 when the Trump administration released a report detailing the economic damage caused by the theft of U.S. intellectual property by Chinese companies. This led to two rounds of back-and-forth over tariff hikes.

While U.S. negotiators have focused on forcing China to end intellectual property theft and open its market to American companies, Trump has also paid close attention to reducing the U.S.-China deficit, although the consensus of economists is that the bilateral trade balance has little to say about the economic health of the country. Economists SW Business Directory have warned that a dramatic escalation of tension in the US-China trade war would cause US consumers to pay more for goods from this country and potentially have negative consequences for the US economy. Additionally, contrary to what the president insisted on tweeting on Sunday, several studies have shown that the majority of tariff costs are falling on American consumers and businesses.



Don't be fooled: the rich don't actually create jobs While President Donald Trump enjoyed the support of people struggling to make ends meet in the White House, his policies have only accentuated the divide between the haves and have-nots, experts say, and his tax reform is the main point of discussion. Large corporations like Dimon's have used the savings they have made from the tax bill not to pay higher wages to workers or create new branches, but to buy back shares, increase their stock price and help the minority of the American population that is investing in the stock market. Of course, no billionaire is calling for regime change at the moment.