US will hold off on raising China tariffs to 25% a
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Posted On: 12/02/2018 11:06:43 AM
US will hold off on raising China tariffs to 25% as Trump and Xi agree to a 90-day trade truce
Sat, Dec 1 2018
Xi Jinping and Donald Trump discussed a range of issues — among them the trade dispute that has left over $200 billion worth of goods hanging in the balance.
“President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time,” the White House said.
1. China asks Trump not to increase tariffs that are already at 10% and asks for 90 days "to negotiate lingering disagreements on technology transfer, intellectual property and agriculture."
2. "China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately."
Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent,” the statement added.
So you tell me who blinked, lol.
https://www.cnbc.com/2018/12/01/us-china-wont...eport.html
Sat, Dec 1 2018
Xi Jinping and Donald Trump discussed a range of issues — among them the trade dispute that has left over $200 billion worth of goods hanging in the balance.
“President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time,” the White House said.
1. China asks Trump not to increase tariffs that are already at 10% and asks for 90 days "to negotiate lingering disagreements on technology transfer, intellectual property and agriculture."
2. "China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately."
Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent,” the statement added.
So you tell me who blinked, lol.
https://www.cnbc.com/2018/12/01/us-china-wont...eport.html
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