US plans trade agreement with European Union, fearing China’s economy

Washington: United States under the fear of China’s growing economy plans to create hurdle by entering into a trade agreement with European countries, ARY News reported.

According to American news agency’s report, keeping in view the fast growing economy of China a mutual agreement for trade has been discussed in a meeting between the US and European Union.

In the meeting plans were made to stabilize the local industries and to make suitable reforms for international trade.

In this regard, White House has officially initiated negotiations with European countries.

China has stated that steps will be taken to overcome these hurdles planned by US in economic development and amendments will be made for international trade.