5 hours agoChina cancels additional taxes on American goods
Periskopi(7 years ago)
(7 years ago)China has taken the decision to annul the implementation of some additional taxes on American goods, which were scheduled to take effect from December 15th. This decision came after the two largest economic powers in the world reached agreement on the first phase of the trade deal. Under the deal, the United States also wants [...]
Under the deal, the United States will also cancel planned taxes on Chinese goods in exchange for increasing export of agricultural products and other American products in China.
China's revenge taxes, which were planned to enter into force from Sunday, targeted various American products, including corn, wheat, cars and car parts.
However, the State Council of China's Customs Commission announced that earlier taxes on American goods will continue to remain in force.
This statement further states: “Kina hopes to work with the United States on resolving concerns and promoting sustainable trade and economic relations between the two states”.
According to the American trade negotiator, Beijing has agreed to buy additional goods from the United States worth $200 billion over the next two years, writes “Reuters”, Report Express broadcast.
