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Trump assures there has been "great progress" in negotiations with China

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  • Sat, 12/29/2018 - 17:51
Trump assures there has been "great progress" in negotiations with China
  • EFE

President Donald Trump said today that there has been "great progress" in the negotiations in trade between the United States and China, although he did not give specific details about the future agreement between both countries.

"I just had a long and very good call with President Xi (Jinping) of China, the deal is going well, if it is done, it will be very complete, covering all the issues, areas, and points of contention. Great progress is being done! "said Trump in his Twitter account.

The United States and China are in the midst of a 90-day trade truce agreed between Trump and Xi during the G20 summit in Argentina in early December.

If at the end of that period, which began on December, there is no satisfactory solution to the US concerns, the US tariffs on Chinese products worth 200 billion dollars will go up from the current 10% to 25%.

In spite of the commercial tension between both countries during the last months, the truce has supposed good gestures on the part of the two governments in the economic matter.

The Chinese Ministry of Finance announced in mid-December that China will suspend additional tariffs for vehicles and auto parts manufactured in the United States for three months from January 1, 2019.

Also, the Government of Xi approved the resumption of the purchase of US soybeans and Chinese lawmakers agreed to the presentation of a bill to prohibit the forced transfer of technology.

For his part, Trump said two weeks ago that his country could reach "soon" a trade agreement with China, after the Asian giant announced that its industrial production has slowed down, one of the president's objectives.

The White House wants the talks with Beijing to provoke structural changes in the Chinese trading system, in particular as regards what it considers a forced transfer of technology and limited protection of intellectual property.

The Trump Executive also wants the negotiations to convey to an opening of the Chinese market to the US agricultural products and manufacturers.

Source-EFE

 

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