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Thursday, December 20, 2018

America & China Agree To Suspend New Trade Tariffs For 90 Days

Image may contain: 1 person, textUS President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new
trade tariffs for 90 days to allow for talks, the US says.
At a post-G20 summit meeting in Buenos Aires, Mr Trump agreed not to boost tariffs on $200bn
(£157bn) of Chinese goods from 10% to 25% on 1 January.

China will buy a "very substantial" amount of agricultural, industrial and energy products, the US
says. Meanwhile, Beijing says the two sides agreed to open up their markets.
It was the first face-to-face meeting between the two leaders since a trade war erupted earlier
this year.
The dispute broke out after Mr Trump complained China was
doing nothing to cut its large
surplus in bilateral trade. At the summit in Argentina's capital earlier on Saturday, the G20
leaders agreed a joint declaration that notes divisions over trade but does not criticise
protectionism.

Mr Trump and Mr Xi held a "highly successful meeting", the White House says in a statement.
It says the US tariffs on Chinese goods will remain unchanged for 90 days, but warns: "If at the
end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs
will be raised to 25 percent."
The US says China agreed to "purchase a not yet agreed upon, but very substantial, amount of
agricultural, energy, industrial, and other products from the United States to reduce the trade
imbalance between our two countries".

Both sides also pledged to "immediately begin negotiations on structural changes with respect
to forced technology transfer, intellectual property protection, non-tariff barriers, cyber
intrusions and cyber theft", the White House says.
President Trump said earlier this year he wanted to stop the "unfair transfers of American
technology and intellectual property to China".
According to the US, China has also signalled it will allow a tie-up between two major
semiconductor manufacturers which Chinese regulators have been blocking.

GUYS, WHAT DO YOU THINK?
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FACEBOOK COMMENTS

Kosi Jeff

f*ck china, Trump is too wise for them

Endy Edeson

Yeah, that is why agreed on 90 days suspension of the new trade tariffs

Johnson Ahile

America and China battle for economic power every time.

Endy Edeson

Johnson: Trump wants China to buy more American products but China would rather export more to America than import from America. So, that is a trade imbalance President Trump wants to be corrected

Danny Gold

these are what we call presidents not like the things ruling us since ages...mtchewwww
1

Endy Edeson

@Danny: They are world powers, so you can't compare them with African leaders who agree to "any" deal especially when it's a foreign deal
1

Gbolahan Libra General

This America always want to be on top.
Are they claiming more technological than China?
1

Endy Edeson

Trump wants a trade balance. It's obvious China didn't know Trump would detect such trade error Gbolahan Libra General so they can remain world power
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