(Buenos
Aires, Argentina, 2nd December) The highly-respected Xi Jinping and
Trump’s meeting took place on Saturday night in Argentina. The talks achieved
positive results. After the talks, the two sides agreed to "a truce"
for 90 days. No new tariffs will be imposed during this period, and trade
negotiations will continue to prevent the US-China trade war from further
expanding.
China
President Xi Jinping and US President Trump took the opportunity to attend the
Buenos Aires G20 summit. The two had a dinner at 5:30 pm local time, and the
talks lasted nearly two and a half hours, longer than expected.
Trade
Negotiations Will Be Going On
According
to a statement issued by the White House after the "meeting",
President Trump has agreed to stop adding new tariffs to China for 90 days from
January 1, 2019. However, the White House said that the trade war
"ceasefire" will only last for 90 days. During this period, the two
sides will continue negotiations. If there is no progress in technology
transfer, intellectual property, cyber-attacks, trade bastions, etc.,
Washington will restore tariffs as high as 25%.
CCTV
English Channel CGTN also reported that the two countries will not impose new
tariffs on the other products from January 1 next year and continue to
negotiate on trade issues. As for the existing tariffs already imposed, the
report did not mention how to deal with them.
The
statement pointed out that Trump and Xi Jinping have agreed to start
negotiations on the structural changes of the Chinese economy immediately.
These involve forced technology transfer, intellectual property protection,
non-tariff barriers, network intrusion and cyber theft, services and
agriculture.
Although
such a result does not mean that the China-US trade war "has ended",
it has at least returned to the armistice stage. Trump has imposed tariffs on
China products worth USD 250 billion, almost half of China's total sales of USD
506 billion last year; China has levied tariffs on US$110 billion in imports of
US goods as revenge.
According
to a plan previously announced by the US government, the tariff on 200 billion
U.S. dollars of Chinese goods will increase to 25% on the 1st of January next
year.
News
from: < SinChewDaily >