China And The United States Reached Consensus On Economic And Trade Issues

- Jan 21, 2019 -

(The news from Singapore UNL Shipping & Logistics Pte Ltd ).

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China and the us have agreed in Argentina to suspend higher tariffs on Chinese goods, China will buy a huge amount of us products and reduce its surplus with the us, and the two sides will negotiate over some of the thorniest economic and trade issues within three months.The main three points are as follows:

1. The trade war between China and the United States will not escalate and the two sides will not impose new tariffs;

2. Us tariffs on $200bn of Chinese goods will remain at 10 per cent after January 1, instead of the previously announced 25 per cent.

3. The two sides will step up consultations, and once a negotiated agreement is reached, all the tariffs imposed so far this year may be eliminated.

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Statement from the Press Secretary Regarding The President’s Working Dinner With China

 

The White House

Office of the Press Secretary

December 1, 2018

The President of the United States, Donald J. Trump, and President Xi Jinping of China, have just concluded what both have said was a “highly successful meeting” between themselves and their most senior representatives in Buenos Aires, Argentina.

Very importantly, President Xi, in a wonderful humanitarian gesture, has agreed to designate Fentanyl as a Controlled Substance, meaning that people selling Fentanyl to the United States will be subject to China’s maximum penalty under the law.

On Trade, President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10% rate, and not raise it to 25% at this time. China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately.

President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%.

It was also agreed that great progress has been made with respect to North Korea and that President Trump, together with President Xi, will strive, along with Chairman Kim Jong Un, to see a nuclear free Korean Peninsula. President Trump expressed his friendship and respect for Chairman Kim.

President Xi also stated that he is open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him.

President Trump stated: “This was an amazing and productive meeting with unlimited possibilities for both the United States and China. It is my great honor to be working with President Xi.”



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