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[size=36]China suspends imposing tariffs on some American goods[/size]
Economy | 09:28 - 15/12/2019
Follow-up - Mawazine News
The State Council's Tariff Committee announced today, Sunday, the suspension of additional tariffs that were to be imposed on some American goods beginning December 15, after the two countries agreed on a "first stage" of the trade agreement on Friday.
The statement was published on the websites of government departments, including the Chinese Ministry of Finance, as well as government media such as Xinhua.
The statement added that China hopes to work with the United States on the basis of equality and mutual respect to properly resolve the fundamental concerns of both parties and encourage the stable growth of economic and trade relations between the United States and China.
The US Trade Representative's office confirmed on Friday that the United States had agreed to adjust its customs duties on Chinese goods "significantly" under the first-stage trade agreement with Beijing.
"The trade agreement requires structural reforms in China's economic and trade system in the areas of intellectual property, technology transfer, agriculture, financial services, currency and foreign exchange," the office noted.
Two years ago, the Trump administration began pressuring China, including making sweeping changes to its policies on intellectual property protection and technology transfer, to Chinese companies, industrial grants, and market access.
China has always denied the US accusations that it was engaging in unfair trade practices, and pledged to respond to US punitive measures with similar measures, which led to a heated trade war between the two countries. Ended 29 / A 43
The State Council's Tariff Committee announced today, Sunday, the suspension of additional tariffs that were to be imposed on some American goods beginning December 15, after the two countries agreed on a "first stage" of the trade agreement on Friday.
The statement was published on the websites of government departments, including the Chinese Ministry of Finance, as well as government media such as Xinhua.
The statement added that China hopes to work with the United States on the basis of equality and mutual respect to properly resolve the fundamental concerns of both parties and encourage the stable growth of economic and trade relations between the United States and China.
The US Trade Representative's office confirmed on Friday that the United States had agreed to adjust its customs duties on Chinese goods "significantly" under the first-stage trade agreement with Beijing.
"The trade agreement requires structural reforms in China's economic and trade system in the areas of intellectual property, technology transfer, agriculture, financial services, currency and foreign exchange," the office noted.
Two years ago, the Trump administration began pressuring China, including making sweeping changes to its policies on intellectual property protection and technology transfer, to Chinese companies, industrial grants, and market access.
China has always denied the US accusations that it was engaging in unfair trade practices, and pledged to respond to US punitive measures with similar measures, which led to a heated trade war between the two countries. Ended 29 / A 43
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