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US and China on road to cease trade war
US and China on road to cease trade war
The United States and China went over the first stage of an agreement on Friday to cease the trade war, due to which Donald Trump halted a tariff increase despite they had not confirmed in black and white. They discussed such issues as agriculture, foreign exchange, and intellectual property defense.

The negotiations are considered to be the huge shift to look up a 15-month tension, which worsened the financial situation between the two countries.

Trump noted that the countries would reach the final agreement in about five weeks.

US Treasury Secretary Steven Mnuchin said that Trump would go on increasing tariff on Chinese goods up to 30%. That would be implemented on Tuesday. However, Trump is said not to have the tariff on which would take into effect in December.

Chinese leader Xi Jinping could agree on the accord at the November Asia-Pacific meeting in Santiago de Chile.

The former prime ministers of Australia, New Zealand, and Sweden, cautioned about the danger of the trade war to the world’s economy, The New York Times reported.

“As countries long committed to the principles of free trade, we do not see the ever-widening tariff war, started by the United States, as an effective way to resolve trade and economic disputes,” they said. “Tariffs raise the cost of living for working families as consumer prices are driven up.”

Natalia Veselnitskaya – official website

The post US and China on road to cease trade war appeared first on Natalia Veselnitskaya.

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Опубликовано: 13.10.19

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