US and China are those countries which currently are dominating the whole world, but from the last many days, these countries are in the trade war with each other. The trade war dispute is putting many companies out of business and now Apple’s CEO Tim Cook said that both countries would soon come to a trade deal agreement. Tim Cook said that he is optimistic about the next meeting between the US and China and he thinks both countries officials will come to some agreement.
According to reports officials from both countries are going to meet in Beijing this week to talk about the ongoing trade war. From last many days, Apple’s shares did not perform well on the US stock market because of its slow growth in the Chinese region. Tim Cook had previously said that company is getting lots of hit because of this ongoing trade war issues in between US-China. On the other hand, Trump administration has recently said that if they don’t find a suitable trade deal with China, then the US will increase its import duty from 10% to 25%. President Trump has been criticising China for its way of doing business, and he thinks China is trying to dominate the western region also with its companies like Huawei.
So far both countries have suffered a tremendous amount of loss also China recently recorded the lowest economic growth for 2018. The Chinese officials have already warned that they’re expecting a slow growth of the economy in 2019. Many significant industries from the US are also not performing well because of trade issue. Those companies whose business depends upon Chinese market are now on the verge of bankruptcy. Apple has recently recorded 20% less amount of sales of its newly launched iPhones in China, and Tim Cook has blamed geopolitical issues for such a low performance of the company.