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China And The United States Agree To Stop Adding Tariffs To Each Other
Dec 03, 2018

According to Xinhua News Agency, State Councilor and Foreign Minister Wang Yi said on December 1 that local President Xi Jinping was invited to dinner with President Trump in Buenos Aires on the evening of the same day to hold a meeting. Two and a half hours of in-depth communication in a friendly and frank atmosphere far exceeded the scheduled time. The meeting reached an important consensus and pointed out the direction for Sino-US relations in the coming period.

    According to the People’s Daily News, Wang Yi said that China and the United States agreed to stop adding new tariffs to each other. The US government’s 10% tariff on China’s 200 billion products was originally scheduled to increase to 25% on January 1 next year. It has been decided to remain at 10% on January 1 next year. The two sides decided not to impose new tariffs on new products.

    According to the news, for the 50 billion US dollars of goods that have been tariffed to 25%, China and the United States will step up negotiations and reach an agreement in the direction of cancellation.

    China is willing to expand imports on the basis of meeting its own needs and gradually ease trade imbalances. In the process of reform and opening up, the legitimate concerns of the US were met.

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