US-China Trade War Hurting The Global Economy



Charles Wallace | Forbes

The US and China are inching toward a trade deal, possibly at the end of next month, but the trade war is hurting global economic growth and the damage from more than a year of punitive tariffs may be difficult to repair.

A US delegation headed by Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer is headed back to Beijing next week to resume the negotiations that stalled in February, the Wall Street Journal reported. The following week, a Chinese delegation headed by Vice Premier Liu He will visit Washington.

Although President Trump sounded optimistic about the talks on Tuesday, saying “China is going very well,” the process is taking much longer than expected when Trump extended the deadline for a deal beyond March 1. He had earlier threatened to raise tariffs on Chinese imports if no deal was reached by that date.

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