Although China hopes for the tariffs issues to be solved, it believes the US will put forth some demands for this to take place, and the Asian country is said to be taking the necessary steps to prepare itself in case the discussions do not go as expected.
The trade dispute has affected businesses in both countries. In the US, some businesses have reportedly been facing more regulatory hurdles leading to delayed shipments and lost sales. During the year several companies said they were looking to shift production out of China to avoid hefty tariffs.
The tariffs will lead to increased prices in the US and lower demand for Chinese products, thereby taking a toll on China’s exports and its economy. The stock markets in both countries have been facing volatility due to the ongoing trade issues.
It remains to be seen how the talks turn out and what measures both countries will resort to during the coming year but if the trade dispute continues, it will definitely put pressure on businesses and the economies in both countries.