11 December, 2018

International trade: pause in trade war United States vs China

SUPLY CHAIN

On the margins of the G20 in Buenos Aires, Argentina, on 01/12/2018, an agreement was reached between the two major world powers to avoid imposing new tariffs on each other.

After three intense rounds, giving rise to each recovery to a list of overtaxed products, President Trump and President Xi Jinping reached an agreement and declared a 90-day truce.

In return for China's commitment to increase imports of agricultural, energy and industrial products « made in USA », the United States will not increase import duties by 10 to 25% on more than 6,000 products originating in China on 1 January 2019 (seeUSA / China: resumption of commercial hostilities...).

The two partners 3 months to find a trade agreement which will mainly aim to allow the reduction of the US trade deficit...

Let us hope for the international traders that the negotiations will be concluded... otherwise the fight could be resumed!

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Source(s): www.challenges.fr

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