It is a respite in the trade conflict between the two world's leading economies. Washington and Beijing agreed Friday (October 11th) on "Phase 1" of an agreement to end the trade war between the two countries, leading Donald Trump to suspend a tariff increase next week.
But officials in the US administration have pointed out that the deal still needs to be written down and that more work needs to be done before it can be finalized.
This partial agreement covers agriculture, currency issues and some aspects of intellectual property protection.
Mismanaged global markets
It is the most notable step forward on the road to an armistice between Americans and Chinese, who have imposed on each other for fifteen months duties and taxes on hundreds of billions of dollars worth of goods, slowing global economic growth and malfeashing financial markets.
Few details were exposed on Friday, but Donald Trump estimated that five weeks may be needed to put it in writing and that it could be signed with his Chinese counterpart Xi Jinping at the planned Asia-Pacific Cooperation Forum (APEC). November 16 in Chile.
"Very close to burying the hatchet"
The first two economic powers of the planet are "very close" to bury the hatchet, added the American president, who was speaking after an interview at the White House with the head of the Chinese delegation, the vice-premier Minister Liu He.
The meeting between Donald Trump and Liu He concluded two days of high-level talks in Washington, the first since July, to try to resolve a trade dispute that hampers trade between the United States and China and world trade.
US Treasury Secretary Steven Mnuchin, who leads the US delegation with Trade Representative Robert Lighthizer, announced that Trump had decided to suspend the 25% to 30% increase in US tariffs on goods. $ 250 billion in imports from China, which was scheduled for next Tuesday.
With AFP