By Ishaan Bhattacharya
Welcome back to the Giannini Politics Update. Today we will be discussing U.S. President Donald Trump's recent trade deal with President Xi Jinping of China..
The U.S. and China have been locked in a trade war for the past year, and communique in the words of Trump a new “incredible” trade deal between the two nations may benefit the U.S. economy. Trump turned to Twitter to report the effects of the deal, one of which is to “reduce and remove” tariffs on U.S. automobiles. At a meeting in Buenos Aires, Mr. Trump agreed not to boost tariffs on $200 billion of Chinese goods from 10% to 25% on 1 January. The U.S. also claims that China agreed to purchase a substantial amount of several U.S. goods varying from agricultural to industrial products to reduce the trade imbalance between the two countries.
The news of the trade deal is predicted to spark beneficial results for both countries involved with the deal. On the contrary, a cyberattack on the Marriott Hotel chain that contained data of roughly half a million guests was recently reported and traced to Chinese hackers. Politicians such as Mike Pompeo, Secretary of State agreed with the blame facing China. The hackers are reportedly working for the Ministry of State Security, China’s civilian spy agency. This does not show definite resolution of the bumpy relationship between the U.S. and China.
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