US President Donald Trump said that on Thursday, he would sign a trade agreement with a “large and respected country.” The press conference on this occasion is scheduled for 10.00 in the morning local time in the oval office.
“Tomorrow morning at 10:00 in the oval office [will take place] a large press conference on a major trade transaction with representatives of a large and very respected country. The first of many !!!” – wrote the American leader in his social network Truth Social.
According to The New York Times with reference to three informed sources, we are talking about agreement with the UK. The representative of the White House, in turn, refused to comment on Trump’s statement.
The publication notes that this will be the first officially declared agreement from the moment Trump, holding the presidency, introduced tough duties against a number of US trading partners. Later, the actions of duties were temporarily suspended to give other countries the opportunity to conclude transactions with Washington.
“Mirror duties” Trump and trade confrontation
On April 2, US President Donald Trump announced the introduction of mirror duties on goods of foreign trading partners of the United States (185 states were included in the list). The minimum basic amount of duties will be 10%, but for a number of countries the duties are calculated individually depending on the trade deficit of the United States with these countries. For China, the duty amounted to 34%, and for the EC-20%countries.
China was the first to react to the US decision on raising duties and announced the introduction of additional duties of 34% in response to similar measures by Washington.
In response, the head of the White House said that if China does not cancel its 34 percent duties, then the United States will introduce additional duties in the amount of 50%.
China responded to Trump’s threat to introduce additional duties, announcing an increase in duties on the US -imported products to 84%.
As a result of the US trade confrontation, they increased its duties for Chinese goods to 125%. The Washington administration postponed for 90 days the introduction of additional duties in other countries, duties on China entered into force.