Time is running out for the US and China to come up with a deal that will bring an end to the trade tariffs. The two biggest economies in the world came to a truce late last year with both countries suspending new tariffs on each other, to allow room for negotiations to take place.
The deadline for the truce is coming closer as both sides still have yet to come to an agreement. This is leaving markets and business worried that new tariffs could be imposed.
According to cnbc.com China’s economy is also forecasted to slow down due to tariffs which will affect the US economy and to a larger extent the global economy.
Many in the business community do not believe that the US and China can make enough progress on their issue in a little over a month. US officials have expressed optimism that a consensus will be reached before the truce expires in March.
By Mokgethi Mtezuka