The US President Trump, while deliveirng an acceptance speech to 2020 Republican National Convention late Thursday, promised to end reliance on China ‘once and for all’. Trump added that he would impose tariffs on companies that leave US.
The Trump administration kickstarted a trade war with China two years ago, which roiled global growth. The two sides agreed to a phase one trade deal at the onset of this year. The relief, however, was short-lived as tensions escalated with Washington accusing China of negligence in managing the coroanvirus outbreak.
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