At last minute, China suspends tariffs on some USA products
- Author: Darren Santiago Dec 18, 2019,
Dec 18, 2019, 0:41
The government is also one of the world's biggest supporters of renewable energy, electric vehicles and high-speed rail, all of which should help depress oil demand in the long run.
He went on to say the main goal of the agreement is to fully integrate Chinese and American trade.
His comments came after US President Donald Trump tweeted on Friday that a "very large phase one deal with China" had been clinched and that under the accord, Beijing will be required to make "many structural changes and massive purchases of agricultural product, energy, and manufactured goods, plus much more" from the US.
"China and the USA have been locked in a trade war for about 20 months and neither side could overwhelm the other to recklessly impose its own will on the other", said the newspaper, which is known for its nationalistic views. -China trade deal which is expected to almost double US exports to China over the next two years, while China remained cautious ahead of the signing of the agreement.
China to increase imports from U.S.
"Trump will also force China to buy a lot of US energy and manufacturing products at this stage or the next stage", Shi told a forum in Beijing on Monday. "And the fact that we have all of them together is great for agriculture", he said.
After a dispute that raged for close to two years, with several fumbled efforts at a resolution, the USA agreed to cancel planned tariffs and rollback others immediately, without a similar commitment from China to lift tariffs it imposed on the U.S. He suggested that China might have to buy more soybeans than it needs to meet the terms of the agreement.
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"We were kind of on a brink, and we saw the negotiators reach a deal that pulled us back, and I think that is important", she said of the news Trump canceled the 15 percent tariffs on electronics that were due to hit Sunday.
As China is deepening its reform and opening up, its market will inevitably expand, which offers opportunities to the United States, as well as to Europe and the rest of the world, Wang said.
The deal ultimately left 25 per cent USA tariffs on $250 billion worth of Chinese imports, limiting stock market gains on Friday.
In an article published on Saturday, Doffman claimed that the Chinese tech giant will "lose out" as Beijing and Washington agreed on the deal's "phase one".
"Whether this whole agreement works is going to be determined by who's making the decisions in China", he said.
This came after China officially suspended tariffs on US goods, which were set to go into effect on Sunday. "If the hard-liners are making the decisions we're going to get one outcome, if the reformers are making the decisions - which is what we hope - then we're going to get another outcome".