USA and China Trade Problems – level 3
The US and China met to make trade deals, but the two countries failed to make a deal.
In response, the US said that it would increase tariffs on billions of dollars of Chinese goods, and China said that it would also increase tariffs on about 60 billion dollars’ worth of US imports.
The American stock market fell sharply as a result, with markets opening and closing in the red.
President Trump said that the US needs to have a strong economy, and he will work with China when they meet again next month at the G-20 in Japan.
Difficult words: tariff (a tax that people pay to buy or sell things between countries),in the red (below budget, without any money), G-20 (a meeting of the 20 largest governments and banks in the world).
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