President Trump and President Xi came to an agreement at the G20 Summit in Argentina over the weekend. As a result, the “List 3” tariff numbers will NOT increase to 25% on January 1st; rather, they will remain at 10% for an additional 90 days to allow the two sides to come to a more permanent solution in the ongoing trade war.
China pledged to “a substantial” increase to their imports from the US of agricultural, industrial, and energy products. In addition, both sides agreed to “immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft” according to the White House.
This marks the first real progress in the US-China trade war that broke out earlier this year. Talks between the two sides are expected to ramp up to put an end to the economic conflict.
- Posted by ALBA Wheels
- On December 3, 2018
- 0 Comments