Trade war: Donald trump has reached with China the agreement on provisional truce

In the trade confrontation between the US and China is finally moving in the best direction.

During negotiations in Argentina that took place after the summit «Big twenty», the American President and the Chinese President agreed to reduce the degree of tension in economic relations between the two countries. I told myself Donald trump, giving comments to journalists.

According to the head of the United States of America, during a meeting with XI Jinping was made a mutually beneficial compromise, which in the future could lead to one of the largest agreements in the history.

At the moment, trump agreed temporarily not to raise taxes from 10% to 25%. In return, China should significantly reduce the trade imbalance between the two countries.

Trade war: Donald trump has reached with China the agreement on provisional truce
In the trade confrontation between the US and China is finally moving in the best direction. Photo: Youtube

The US President believes that it will have an «incredibly positive impact» on agriculture, industrial products, computers and other sectors of the American economy. In addition, XI Jinping and trump has agreed to discuss changes in such areas as protection of intellectual property, forced technology transfer, safety in cyberspace and non-tariff barriers.

The press service of the White house declared: if in the next three months China and the US will be able to build on today’s agreement, the us government will change its rhetoric against China. However, if this happens, 25% of tariffs will come into effect.

«The parties have agreed that they will try to complete the transaction in the next 90 days. If by the end of this period the parties fail to reach agreement, then a 10% duty will be increased to 25 percent,» — said in a statement.

The representatives of China also confirmed the compromise in a trade confrontation and acknowledged that the United States have grounds for «legitimate concerns». According to the Minister of foreign Affairs Wang Yi, the current agreement could be the beginning of a new phase in economic relations between the two countries.

We should also mention that XI Jinping agreed to strengthen control over fentanyl. This is one of the most dangerous narcotic substances, which are actively supplied in the United States from China. This decision highly appreciated in the White house, calling it a «great humanitarian gesture».

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