8 hours agoUS, China sign first phase of trade deal
Periskopi(6 years ago)
(6 years ago)The United States and China signed the first phase of a trade agreement involving measures to resolve a two-year trade war, but leaves some of the thorniest outstanding issues. The agreement eliminates several US punitive tariffs for Chinese goods, and Beijing is committed to completing its practice [...]
The United States and China signed the first phase of a trade agreement involving measures to resolve a two-year trade war, but leaves some of the thorniest outstanding issues.
The agreement eliminates several US punitive tariffs for Chinese goods, and Beijing is committed to completing its practice to force foreign companies to discover their technology”, according to US Trade representatives.
Under the deal, Washington says Beijing will increase US imports of products for at least $200 billion over the next two years. Neither side revealed details of the agreement.
The first “phase deal leaves Washington's tariffs for Chinese imports worth $370 billion, while reducing the obligation for some of these goods from 15 to 7.5 %.
Analysts say some of the most difficult problems in US-Kina trade relations remain unresolved.
There is no possibility that we will see in this agreement any provision addressing major structural problems with China,” said Jennifer Hillman, a trade expert at the Council for Foreign Relations in New York. /Attish/
