In the trade dispute with the U.S., China has announced that the agreed trade facilitation to implement immediately. A spokesman for the Chinese Ministry of Commerce announced. He was referring to the Agreement, President Xi Jinping and his US counterpart, Donald Trump, which was taken during the G20 summit in Argentina. Accordingly, the originally planned for at the beginning of January pending the next round is to be exposed to new customs duties. Are affected first, levies on agricultural products and cars, as well as in the area of energy.
The United States had provided China with an Ultimatum: If the government in Beijing, the demands for a removal of trade barriers within 90 days of the offspring, should increase the import duties, as planned. The US government had threatened to increase tariffs on imported goods to the value of 200 billion dollars to 25 percent.
on Wednesday it was from Beijing, China, will begin with the implementation of certain points, in which there is a consensus, “the faster, the better”. The spokesman of the Ministry of Commerce has now made a rapid agreement and also announced that it will perform within the agreed 90 days for more talks. It should also ask to other party to the dispute, such as the protection of intellectual property, or technology transfer. Goal is the abolition of all customs duties.
A new burden for the relations between the two States could be the arrest of the chief financial officer of the Chinese smartphone manufacturer Huawei. She was arrested at the weekend in Canada at the instigation of the United States. You will be charged with violation of the Iran sanctions violate.
WTO chief warns of global trade war
most Recently the head of the world trade organization (WTO), Roberto Azevêdo had warned, in front of a global trade war and, in particular, the conflict between China and the United States struck out. Such a conflict would slow the economic recovery worldwide, said Azevêdo, in a speech before the National Foreign trade Council of the USA. All simulation models are coming to the same conclusion: “trade and the economy to be reduced and all countries – without exception – will lose.”
therefore, according to Azevêdo, welcome the announcement of the G20 countries, for a Reform of the WTO, “in order to improve their functioning”. The international trading system “could be better” work, he said, and criticized once again the U.S. decision to block the arbitration system of the WTO. This could the authority of the Organisation as a whole is undermined. The summit Declaration offered, however, a unique opportunity to renew the System.
