Washington also decided to postpone the imposition of punitive tariffs on $200 billion of Chinese goods after Beijing announced a moratorium on tariffs on American-made cars in the first three months of next year, AFP reported.
Washington has also decided to postpone the imposition of punitive tariffs on $200 billion of Chinese goods after Beijing announced a suspension of tariffs on American-made cars in the first three months of next year, AFP reported Wednesday. The U.S. Trade Representative's office officially raised tariffs on China's $200 billion products from 10% to 25% in the Federal Gazette on March 14 to 12:01 p.m. on March 2, 2019.
Reported that the world is now watching the trade negotiations between Washington and Beijing, hoping that the 90-day tariff truce will continue and the two sides can end the trade war. Although it is impossible to solve every problem with China within 90 days, Colvin, vice chairman of the National Council on Foreign Trade, said he hoped that "progress can be institutionalized" and "both sides need to find a win-win path".
"Sino-US contest: Can the cease-fire be turned into an end-of-war?" "Voice of Germany" said that the United States can only achieve the effect of "killing the enemy by one thousand, self-harm by eight hundred" through trade tariffs, which has been strongly criticized at home. Therefore, trade war can only be used as a means of pressure in negotiations, and can not solve all economic friction between the two countries. The report quotes scholars as saying that while China's economic situation is about to rebound, the U.S. economy is likely to cool again. The reason for America's current excellent economic figures is that the foundation laid by the Obama era and the role of Trump's government in reducing corporate taxes and other "stimulants". However, the effectiveness of these measures is time-limited, when the United States loses its "doping effect", it will want to really negotiate with China to solve the problem.
Vice Minister of Commerce Wang Shouwen: China and the United States no longer impose new tariffs on other new products
Wang Shouwen, Vice Minister of Commerce and Deputy Representative of International Trade Negotiations, supplemented the consensus reached at the meeting on economic and trade issues. The two sides decided not to impose new tariffs on other new products.
Vice Minister of Commerce Wang Shouwen: China and the United States will intensify negotiations towards the abolition of tariffs still levied by 25%.
Wang Shouwen, Vice Minister of Commerce and Deputy Representative of International Trade Negotiations, supplemented the consensus reached during the Sino-US meeting on economic and trade issues. As for the 25% tariff still levied, China and the United States will step up negotiations and reach an agreement in the direction of abolishment.
Wang Shouwen: China and the United States agreed to stop imposing new tariffs on each other.
On the evening of December 1, local time, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations Wang Shouwen, introducing the economic and trade issues discussed during the meeting between the two heads of state, said that China and the United States agreed to stop imposing new tariffs on each other, with three specific results.
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