The post We have to have a fair deal with China appeared on BitcoinEthereumNews.com. United States (US) President Donald Trump told Fox Business Network on Friday that a 100% tariff would not be sustainable and added that they have to have a fair deal with China. “I think we’re going to do fine with China,” he stated. Trump reiterated that he plans to meet Chinese President Xi Jinping in a couple of weeks when they are both in South Korea, but said he doesn’t know what will happen. Market reaction The US Dollar Index (DXY) clings to small daily gains at around 98.50 following these comments. Meanwhile, US stock index futures trade mixed, with the Dow Futures rising about 0.15% and Nasdaq Futures losing 0.2% on the day. 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… The post We have to have a fair deal with China appeared on BitcoinEthereumNews.com. United States (US) President Donald Trump told Fox Business Network on Friday that a 100% tariff would not be sustainable and added that they have to have a fair deal with China. “I think we’re going to do fine with China,” he stated. Trump reiterated that he plans to meet Chinese President Xi Jinping in a couple of weeks when they are both in South Korea, but said he doesn’t know what will happen. Market reaction The US Dollar Index (DXY) clings to small daily gains at around 98.50 following these comments. Meanwhile, US stock index futures trade mixed, with the Dow Futures rising about 0.15% and Nasdaq Futures losing 0.2% on the day. 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…