"US, China agree on 90-day trade war break [02.12.18] 03:56:00 United States and China agreed to pause new actions on protective measures for 90 days, the White House said. The two countries will use the time to try to find solutions to a number of existing trade issues. "President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture," stated the White House. However, if they cannot reach an agreement by the end of the 90-day period, the 10% tariffs on $200 billion worth of Chinese goods will be raised to 25%.
China has also agreed to "purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries." The developments result from a meeting between US President Donald Trump and Chinese President Xi Jinping during the G20 summit in Argentina." |