Trade negotiations between China and the United States are coming to an end. China's Commerce Ministry confirmed on Thursday that Vice Premier Liu He would travel to Washington from January 13 to 15 to sign the preliminary agreement, which was seen as a truce in the China-US trade war.
A date already accepted by Trump
Donald Trump announced on December 31 that he would sign the partial agreement with China on January 15 after months of clashing with punitive tariffs at the White House. Beijing had not yet confirmed the meeting, and the text to be signed has not been made public. The American president also indicated that he would go "to a later date" to Beijing where discussions will begin for "phase 2" of this agreement.
According to Washington, the agreement includes advances in technology transfers imposed on foreign companies established in China, as well as better access to the Chinese market for companies in the financial sector. It also stipulates that Beijing will buy $ 200 billion in American products over a two-year period from a benchmark in 2017, including $ 50 billion in agricultural products, as well as products from the energy and manufacturing sectors. . Asked Thursday about this issue, the Chinese Ministry of Commerce did not want to confirm the figure of 200 billion.
American Concessions
In exchange for the Chinese commitments made in mid-December, the Trump administration has given up imposing new tariffs on Chinese products. It also agreed to halve those imposed on September 1 on $ 120 billion in annual Chinese imports.
Since March 2018, Beijing and Washington have inflicted reciprocal tariffs on hundreds of billions of dollars in annual trade, which is severely affecting the Chinese economy and slowing the global economy.
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