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The former American ambassador to China on Tuesday said that “I believe that that the tariffs imposed by the U.S. on the Chinese goods are normal.”
In an interview with the CNBC, the former American Ambassador Max Baucus said that “I frankly believe that we’re in a new normal here and there is no rollbacks or no increase in tariffs on Chinese products.”
Speaking on the U.S. tariffs on Chinese products, Max said: “Because of this Huawei may gets some relief, or maybe we get some more U.S. agriculture products purchased by the Chinese – that may be going to be about it.”
The comment form Max has come after when citing to the two people, the Wall Street Journal reported that “Treasury Secretary Steven Mnuchin has urged the American suppliers of Huawei Technologies to seek the licenses to resume sales to the Chinese telecom company.”
Adding more on this, Max said “The possibility of a deal is depended very much on the point to which Huawei can buy high tech products from American companies,” “I think China is going to look very closely to that,” he added.
“Both the China and U.S. wants a deal, and especially The U.S. President Donald Trump will be looking to come at the agreement ahead of the U.S. presidential elections in 2020,” Max said.
“For Trump, it’s politics is not it’s policy and to get re-elected he is going to try to encourage the Chinese to reach some kind of deal, so it can boost the stock market ahead of elections,” he added.