China suspends planned tariffs on some United States goods
- Author: Sonia Alvarado Dec 17, 2019,
Dec 17, 2019, 0:52
-China trade deal will almost double U.S. exports to China over the next two years and is "totally done" despite the need for translation and revisions to its text, U.S. Trade Representative Robert Lighthizer said on Sunday. The decision was made after the USA and China agreed on a "first phase" of a trade deal on Friday, world agencies have reported. With the rolling back of these tariffs however, United States consumers will now avoid having to pay an extra 10% for these products.
"We have agreed to a very large Phase One Deal with China". Officials in China have "agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more", he said.
"We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election", he added.
Oil prices on Monday held near three-month highs, supported by last week's announcement that an initial trade deal had been reached between the United States and China.
"Trump will also force China to buy a lot of USA energy and manufacturing products at this stage or the next stage", Shi told a forum in Beijing on Monday.
Critical for the Yuan and global risk sentiment is that China could kick start the week on a positive note with a rebound in high-frequency data.
United States exports to China will double in the next year, and almost triple the year after if the agreement is in place.
Judge raises Harvey Weinstein’s bail after court hearing
Rotunno said he is expected to have back surgery on Thursday to alleviate pain caused by a auto accident in August. Ultimately, should the deal go through, it will bring nearly every lawsuit against him and TWC to a close.
U.S. Trade Representative Robert Lighthizer said on Sunday the deal will almost double U.S. exports to China over the next two years and is "totally done" despite the need for translation and revisions to its text.
The deal, however, has met with a mixed reaction from trade experts, in part because some details have yet to be released.
But Lighthizer said negotiators never envisioned solving all trade issues at one go, and future negotiations with China will be informed by the implementation of the phase one agreement.
"Over the course of the previous year, what this president has accomplished in this area is remarkable", Lighthizer said, referring also to the just concluded US-Mexico-Canada trade deal and others.
"No such offer was ever made to China by the United States".
To ensure that China keeps its commitments, Lighthizer said the United States government would periodically review China's actions.
He would not give a precise date for the signing but said he expected it to happen in early January.