By Admin 
Chinese President Xi Jinping has taken a big decision. He has reduced the tariff on American goods by 24 percent. Jinping had recently met US President Donald Trump. After the meeting between Trump and Jinping, the ongoing differences between the two countries seem to be resolved. Jinping had announced immediately after the meeting that China would start purchasing American soybean again.
According to the report of ‘Reuters’, China has reduced the tariff on American goods by 24 percent for one year, but the 10 percent tariff will still remain intact. China will also reduce 15 percent tariff on some American agricultural products from November 10. This decision of Beijing has come after the meeting of Donald Trump and Xi Jinping. There were differences going on between America and China for a long time. However, now the relations between the two countries are expected to soften.
Prolonged tariff war between China and America
Jinping and Trump met in Busan city of South Korea. Immediately after this meeting, Trump reduced the tariff on China by 10 percent. He reduced the 57 percent tariff imposed on China to 47 percent. Due to the tariff war, China had stopped purchasing American soybean, which was causing loss to its farmers, but then China announced to resume the purchase of soybean.
Trump also adopted a soft attitude towards India
America had imposed 50 percent tariff on China as well as India. Trump is angry because of India buying oil from Russia. They imposed tariffs for this reason. However, now he has been seen adopting a soft attitude towards India also. He had announced a trade deal with India.