Many US companies and economists remain watchful about the US/China negotiations and trade relations concerning imported and custom products from China. The recent meeting between United States President Donald Trump, and China President Xi Jinping on April 6th and 7th, 2017 could be considered a win-win on both sides. Showing tact, dignity, and an agenda set on strengthening American and Chinese relations, both presidents proved there is room for negotiations and agreement. These recent discussions can mean a positive, more softened opinion towards US-based companies who have custom products made in China.
The current issue concerning US/China trading is this large trade deficit the US has with China. President Trump is hoping to bring this deficit more into a balanced state. One interesting highlight of the meeting was China’s preparatory plans to make significant concessions, specifically ending the ban on American goods such as beef imports and agricultural products; as well as, investing in American infrastructure projects. This will only help to strengthen US-China relations. The trade deficit remains an issue. However, the United States Commerce Department has committed to do a review of the trade deficit by product. Their findings are expected in June.
HIGHER TARIFFS?… UNLIKELY
Another concern some have echoed is higher tariffs targeting China goods and custom products. However, such tariffs are unlikely, and have been seen as pre-negotiation positioning. President Jinping stated, “We have a thousand reasons to get China-U.S. relations right, and not one reason to spoil the China-US relationship.” President Trump continued by saying that an outstanding relationship between the two nations was developing and that “goodwill and friendship were formed”, which leads many to believe that anything outside of mutually beneficial trade agreements, such as those on custom products, is unlikely to happen.
Talking points between China and the US regarding trade concluded on a positive note, though the outcome of how trade with China will ultimately develop is unknown. Both sides have agreed to a 100-day plan to see how the issue plays out. This plan will ultimately reveal more about which direction trade between the two nations will be determined.
HELP WITH MANUFACTURING IN CHINA
Regardless of how the United States and China trade relation continues to develop, US companies will continue to benefit from working with a company like ITI Manufacturing. With 43 years of Asia manufacturing experience, ITI is in a unique position to assist companies considering China-made custom products. ITI’s reputation is one of moving conservatively, but also, helping our customers enjoy “fast start success”. At ITI Manufacturing, we work on behalf of our clients to have products manufactured right:
- The first time…every time
- At a competitive price
- With minimum delay… AND
- With no manufacturing defects.
Connect with ITI Manufacturing to discuss your custom product manufacturing needs. Our experts will help you find the right options. Call 800-574-6823 for more information.
Online Source: https://www.cnbc.com/2017/04/10/trump-xi-meeting-concluded-without-gaffe-but-criticism-soon-followed.html. Retrieved- May 24, 2017