In a message to Trump, Chinese President Xi Jinping said the agreement was “beneficial to China, the United States and the world.” Xi also said the agreement shows that both countries can find appropriate and effective solutions to problems “on the basis of equality and mutual respect through dialogue and consultation.” May 3-7, 2018: The United States and China are conducting trade talks in Beijing, where the United States is asking China to reduce its trade deficit by $200 billion over two years. Conversations end without dissolution. Despite all the fanfare – and the unusual attitude of a president when signing a bilateral trade agreement – it is more of a ceasefire than a victory – only a small part of the tariffs are cancelled and relatively small concessions are granted by both sides. Tariffs remain on about two-thirds of the goods that Americans buy from China The trade war indirectly led some companies to go bankrupt. One of them, Taiwanese LCD panel manufacturer Chunghwa Picture Tubes (CPT), went bankrupt following an oversupply of panels and then a fall in prices, supported by vulnerability to trade war (caused by over-expansion in China), a slowing Taiwanese and global economy and a slowdown in the electronics sector.   China and the United States announced on Friday that they had reached a first-phase trade agreement just before new tariffs came into effect on Sunday, which would have affected the mass of consumer products, including popular electronics such as smartphones and laptops. Following the announcement by the Chinese Customs Commission, 696 U.S. raw materials will be exempt from additional Chinese tariffs, as the Chinese government strives to meet commitments made in the trade agreement with the United States. In 2017, even before the start of the trade war, China bought $130 billion worth of U.S. goods and $56 billion in services, as U.S. data show. Peter Navarro, director of the White House Office of Trade and Manufacturing Policy, said tariffs were “purely defensive measures” to reduce the trade deficit.
 It says that the cumulative billions of dollars that Americans transfer abroad as a result of annual deficits are then used by these countries to buy U.S. assets, unlike the investment of that money in the United States. these billions of dollars are in the hands of foreigners who can then use them to buy America.  In August 2019, Roger Johnson of the National Farmers Union, which represents about 200,000 farmers from families, farmers and fishermen, said the trade war was creating problems for American farmers, with a focus on declining U.S. soybean exports to China.  [Best Source Required] In the same month, the American Farm Bureau Federation, which represents the large agricultural industry, stated that the announcement of new tariffs “signals more problems for U.S. agriculture.”  White House Chief Economic Adviser Larry Kudlow said the United States has asked China to resume trade negotiations before $200 billion (list 3) tariffs come into effect. U.S. and Chinese negotiators resume trade talks in Beijing on Thursday, March 28 and Friday, March 29, after not meeting face-to-face for nearly a month.