The end of the trade war, the deal between the United States and China
- January 16, 2020
- Andrew S Gillis
WASHINGTON: The deal is set to end the trade war between the United States and China, the United States says, adding that the deal is the first step, and more issues will continue to be negotiated.
According to details, the deal was signed to end the ongoing trade war and tensions between the two world powers, signed by US President Donald Trump, the signing of the deal will reduce the ongoing trade war in the United States and China.
Under Dell, China will buy US $ 2 billion worth of US products in the second year, including $ 40 billion worth of agricultural commodities, $ 75 billion of manufactured goods, $ 50 billion of energy and $ 40 billion of services.
In response to this Chinese move, the United States will reduce taxes and duties on Chinese products, reducing the total Chinese product taxation by $ 360 billion.
Just a few days ago, the United States removed China from the list of currency-compromising countries.
On the other hand, the US and China recorded significant gains in the US market due to trade deals; all US stock markets ended up in the green zone while the Asian stock markets saw mixed trends.
Chinese stock markets saw a slight decline, while Hong Kong stock markets rose and Japan’s stock markets saw a steady decline.
Remember that in December last year, America agreed to reduce the excise tax on Chinese products and Trump signed a deal in this regard, the British news agency said, China intends to increase imports from the US. Has also given.
It should be noted that in the last year’s trade war between Beijing and Washington, the two fricatives have imposed nearly $ 360 billion worth of taxes on each other’s imports.