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US-Chinese agreement not to engage in a trade war

Rocky

Rocky: Admin Assist; Posts : 282968
Join date : 2012-12-21

Post n°1

US-Chinese agreement not to engage in a trade war

by Rocky Mon 21 May 2018, 2:04 am

US-Chinese agreement not to engage in a trade war

21/5/2018 12:00 am

[rtl] BEIJING (
Reuters) - Beijing and Washington have agreed not to engage in a trade war and not to impose additional customs duties on other countries' goods, Chinese Vice Premier Liu Hee said.
"The two sides reached a consensus not to engage in a trade war and to stop increasing tariffs on each other," Liu said, quoted by the official Xinhua news agency.
Liu made the remarks after heading the Chinese delegation to Washington this week, where he held talks with US Trade Secretary Stephen Menuchin.
The two countries issued a joint statement earlier in which they announced an agreement to reduce "significantly" the US deficit in trade with China, but without
details.
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 the trade deficit but without committing any figure contrary to what President Donald Trump is demanding.
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.[/rtl]

[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=157396
[/rtl]

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