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Beijing and Washington agree not to engage in a trade war

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rocky
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Beijing and Washington agree not to engage in a trade war

Post by rocky on Sun 20 May 2018, 2:34 am

[ltr]Beijing and Washington agree not to engage in a trade war[/ltr]
[ltr]Arab and international[/ltr]
 Since 2018-05-20 at 09:10 (Baghdad time)
[ltr][/ltr]
[ltr]Follow up of Mawazine News[/ltr]
[ltr]BEIJING (Reuters) - Beijing and Washington have agreed not to engage in a trade war that was expected and not impose additional customs duties on other countries' goods, Chinese Vice Premier Liu Hee said.[/ltr]
[ltr]"The two sides reached a consensus not to engage in a trade war and to stop increasing tariffs on each other," Liu said, according to the official Xinhua news agency.[/ltr]
[ltr]Liu made the remarks after heading the Chinese delegation to Washington this week, where he held negotiations with US Trade Secretary Stephen Menuchin.[/ltr]
[ltr]The two countries issued a joint statement Saturday, announcing an agreement to reduce "significantly" the US trade deficit with China, but without details.[/ltr]
[ltr]The deal was a breakthrough in the crisis between the two countries, a form of concession by Beijing, which agreed to the principle of reducing trade deficit, but without committing to any number contrary to what President Donald Trump demanded.[/ltr]
[ltr]The White House is demanding a $ 200 billion deficit with the Asian giant. The US trade deficit with China last year was about $ 375 billion, ending 29/43[/ltr]


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