16 minutes agoTrade deficit, China accepts American view
Periskopi(8 years ago)
(8 years ago)China agreed to buy more American goods and services by reducing trade inequality between the two countries and easing fears of a trade struggle. Sources from Washington said the move would significantly reduce the annual trade deficit with China amounting to $335 billion. But the U.S. did not give numbers [...]
Sources from Washington said the move would significantly reduce the annual trade deficit with China amounting to $335 billion. But the US did not give any figures on how much this reduction will be. In a joint statement following talks with Chinese officials in Washington, it says the parties agreed to significantly increase American exports to agriculture and energy.
According to the statement, this will help economic growth and US employment. The two countries also agreed to continue trade negotiations to resolve bilateral concerns.
Earlier, the White House said it was intended to achieve a $200 billion reduction of the trade deficit with China, but such a figure was not written anywhere in the declaration.
It also did not say whether the parties will delay or abolish the tariffs they have announced on each other's goods.
The tariffs have been approved, but still not implemented. Analysts say that regardless of the figure, the change in Chinese is due to US insistence led by Donald Trump, who threatened commercial warfare. Few people are willing to accept Trump's achievements in the US, but the businessman turned president seems to be the first to force China to admit, even indirectly, that its trade practices are not even fair.
