Us China Trade Agreement Update

The United States and China are in talks in Washington D.C. With Liu He at the head of the Chinese trade delegation. During the negotiations, China proposes to buy five million tons of U.S. soybeans. Trump announces that he will meet Xi in person in February. According to Caixin, Chinese Vice Premier Liu He called for calm in the face of the recent escalation of threats of trade war. Liu reportedly told an audience that China “strongly opposes” the recent escalation of the trade war. Liu also said the escalation of the trade war was “contrary to the interests of China, the United States and the world.” Later, US President Donald Trump told the media: “China last night called our trade men and said, “Let`s get back to the table,” so we`ll come back to the table and I think they want to do something.” The trade war did not begin under Mr. Trump`s presidency or during his statements in September 2011, before he took office. You have mistakenly or intentionally omitted the introduction of tariffs and other unfriendly trade practices and trade restrictions that China adopted from the signing of WTO agreements. This, my friends, is the real beginning of the trade war.

WASHINGTON – U.S. President Trump signed his first trade deal with China on Wednesday, ending the first chapter of a long and economically damaging battle with one of the world`s largest economies. A first pact that cooled tensions in an election year follows months of escalating tariffs and a trade war that seemed never to stop. The United States and China conducted mid-level trade negotiations ahead of high-level trade talks scheduled for Washington in October. The U.S. Trade Representative`s Office (USTR) also issued an announcement in which it expressed support for the trade agreement. “The parties looked at China`s steps to bring about structural changes, required by the agreement, that will better protect intellectual property rights, remove barriers to U.S. companies in the financial services and agriculture sectors, and eliminate forced technology transfer.

The parties also discussed china`s significant acquisitions of U.S. products, as well as future measures needed to implement the agreement,” USTR said. President Trump`s long-awaited trade deal with China involves some major changes in economic relations between the world`s largest economies. The United States and China must resume negotiations on important policies that are not affected by the first phase agreement. Trump`s trade war has failed to address what really concerns U.S.-China trade relations. It is time for a new approach. Day 565: January 15, 2020 – United States, China signs Phase 1 of the Energy Trade Agreement, which represented only 8 percent of the total goods covered by the first phase purchase commitments, but their objectives were particularly questionable. Bloomberg reported that it was only after the signing of the agreement that the government learned from U.S. industry that it did not lack production capacity to meet the targets.10 In addition, the assessment of U.S.-China trade relations on the basis of a significant expansion of fossil fuel exports – whose targets include only crude oil , liquid natural gas, coal and refined products – ignores global concerns about climate change.