The U.S. and China have reached a provisional agreement in their for months the ongoing trade conflict. The United States wants to suspend new tariffs against China for 90 days. A for the 1. January increase in threatened previous import customs duties in the amount of ten to 25 percent for the time being, the absence, informed the White house. It should be according to the scheduled 90 days, no agreement, there will be an increase in the customs duties.
the Chinese state television CGTN reported on the approach, at a dinner in US President Donald Trump with China’s state and party chief Xi Jinping, following the G20 summit in Buenos Aires. Xi and Trump sat together with smaller delegations almost two and a half hours. According to information from the English-language Chinese newspaper, the South China Morning Post, it should have at the end of the meal, the two men of applause from the delegation members.
China said, according to the White house to buy more American goods, including agricultural products. “It was a great and productive Meeting with unlimited possibilities both for the United States, as well as for China”, Trump quoted in the message of the White house. “It is a great honor to work with President Xi to cooperate.”
“Positive and constructive discussions”
The planned further negotiations to deal with “structural changes” in terms of forced partial transfer of technology, copyright protection, market barriers, Cyber-attacks, services and agriculture, said a spokeswoman for the White house. China’s foreign Minister Wang Yi confirmed the agreement, but mentioned the period of 90 days. The objective of the negotiations is to eliminate all the imposed special levies. Wang Yi spoke of a “common Agreement “very positive and constructive” conversations.
Trump and Xi were on the verge of the G20 summit come together to find in in months-led trade dispute with a compromise. Xi pointed to the start of the talks on joint ownership of the two largest economies for prosperity and peace in the world. The encounter he saw as a good opportunity to exchange ideas. Trump had shown itself to be optimistic that something could be achieved, what “will be good for China and good for the United States”.
According to the International monetary Fund, the trade presses of dispute on the growth of both countries. The USA have covered China with special customs duties on Goods with a total value of $ 250 billion. China responded with retaliatory tariffs in the amount of 60 billion dollars. As a minimum objective force, the US announced an increase of a part of the duties had to avert from ten to 25 percent.