The post Long meeting scheduled with Xi, thinks something will work out appeared on BitcoinEthereumNews.com. US President Donald Trump said late Wednesday that a long meeting is scheduled with China’s Xi Jinping in South Korea and thinks something will work out. Key quotes Long meeting scheduled with China’s Xi in South Korea and thinks something will work out.It did not feel right to have a meeting with Russia’s Putin, so he canceled it and felt it was time for Russian sanctions.Hopes sanctions won’t be on for long with Russia.Whenever he speaks with Putin, they are good conversations but they don’t go anywhere. Market reaction   At the time of writing, the AUD/USD is trading 0.09% higher on the day to trade at 1.1664.  US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions… The post Long meeting scheduled with Xi, thinks something will work out appeared on BitcoinEthereumNews.com. US President Donald Trump said late Wednesday that a long meeting is scheduled with China’s Xi Jinping in South Korea and thinks something will work out. Key quotes Long meeting scheduled with China’s Xi in South Korea and thinks something will work out.It did not feel right to have a meeting with Russia’s Putin, so he canceled it and felt it was time for Russian sanctions.Hopes sanctions won’t be on for long with Russia.Whenever he speaks with Putin, they are good conversations but they don’t go anywhere. Market reaction   At the time of writing, the AUD/USD is trading 0.09% higher on the day to trade at 1.1664.  US-China Trade War FAQs Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions…