US President Donald Trump has said, China would no longer have a free reign like it had been having for many years, which resulted in a massive American trade deficit with it.
His remarks came after US initiated a series of tough actions against Chinese trade practices, inviting retaliation by Beijing. Talking to reporters in White House, the US President exuded confidence that the steps would end up with China fairly treating America. He said, America lost 500 billion dollar on trade with China last year.
Trump imposed tariffs on about 60 billion dollar worth of Chinese imports escalating the already tense trade relations between the world’s two biggest economies. In a retaliatory move, China unveiled plans to impose higher tariffs on 3 billion dollar worth of American goods.
