President Trump dey hail some progress wey dey come from China matter, but the details dey be like sketch for now o. According to Trump, US and China don strike deal to roll back some measures wey dem take against each other economies for recent months. Dis include restrictions wey dem propose for Chinese students wey wan attend US universities.
Dis agreement dey follow two days of marathon negotiations wey happen for London. E go return the countries to the terms of trade truce wey dem reach for May, after weeks of tension between dem.
“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,” na wetin Mr. Trump write for Truth Social. “RELATIONSHIP IS EXCELLENT!”
The full details of the agreement never come out sharp sharp, but basically, China go relax restrictions on shipments of valuable rare earth minerals and magnets wey US manufacturers need. For return, US officials go roll back limits wey dem place on exports of US products and technology, including ethane and airplane parts, plus visa restrictions. All dis one bin dey intended to put pressure on China.
Tariffs Go Dey High
Even though agreement dey, tariffs between the countries go remain unchanged. Trump write for Truth Social say U.S. tariffs on China go dey “a total of 55 percent.” Dis one dey add together a 30 percent tariff wey e put on products from China for the last few months and a 25 percent tariff wey e impose on some Chinese products during ein first term. But truth be say, some tariffs on Chinese products dey lower and many dey higher.
While Trump describe the agreement as “deal,” officials no announce progress on any other trade issues, beyond rolling back the tit-for-tat measures wey dem take against each other after Trump ratcheted up tariffs on Chinese products for early April. So, e be like say tariffs go continue dey high for now, as negotiations still dey go on.
Wetin dis mean for Ghana?
Dis trade wahala between US and China fit affect Ghana economy. If tariffs dey high, prices of goods fit increase and e fit affect import and export activities. So, e dey important make we dey watch the situation closely and prepare for any challenges wey fit come.