According to reports, Wilbur Ross in a speech has said that Tariffs are forcing China to pay attention to the concerns of the United States as per a copy of the speech given by US Secretary Of Commerce on October 10. Wilbur Ross is currently on an official State visit to Australia.
In a statement, Ross said that the United States would have preferred not to go ahead with tariffs on Chinese goods more than a year ago, which led to a start of a trade war that resulted in a global slowdown in commerce and threatened systems adding that due to this Beijing has been forced into action. Ross said that the US does not love tariffs and would have preferred to not use the. However, despite years of discussion and no action, China is finally being forced to pay attention to US's concerns. Ross is on an official visit to Australia. The US and Chinese trade, economic officials will meet in Washington on Thursday and Friday to negotiate an end to the 15-month old trade war.
Reports say if there is no significant progress in talks, Trump will go ahead with the hike in the tariff rate on Chinese goods worth $250 billion to 30% from 25% on October 15. Top trade officials haven't made any progress in deputy-level trade talks held on October 7-8 in Washington reports say referring to people privy to meetings.
There has been significant tensions between the two countries over US demands that China must improve the protection of American intellectual property, end cyber theft and enforced transfer of technology to Chinese firms, restrict industrial subsidies, and allow more access of US companies to otherwise closed Chinese markets.
But we are now, for the first time, giving companies a better alternative! https://t.co/jJFKywyIGw— Donald J. Trump (@realDonaldTrump) October 9, 2019
(With PTI inputs)