The US and China today signed the first transaction

2019-12-13 12:03:10
Machine translation
The US and China today signed the first transaction

the First part of the trade agreement between the US and China will be signed on December 13, the Chinese Ambassador in Washington Tsui Tankam and U.S. representative Robert Leitheiser - reports Reuters.

 

According to preliminary information, the us side agreed to a 50% reduction in tariffs on Chinese goods worth 375 billion $, and not to impose tariffs on goods worth 160 billion $, which should come into effect from December 15.

 

Yesterday, President trump discussed the details of the agreements with trading advisors, and tweeted that they "are very close to agreement with China."

 

the Chinese side has agreed to abolish import duty on separate soybeans and pork on the basis of applications from Chinese companies.

 

the U.S., which 5 days ago proposed to reduce the existing duties on Chinese goods, demand from China's clear commitments for the purchase of significant amounts of American agricultural products and other goods, as well as the protection of the rights of American companies ' intellectual property and greater access to the Chinese financial services market.

 

Failure by China of any obligations under the first part of the trade deal will lead to the restoration of duties to previous levels.

 

Since October, the representatives of both countries have held several rounds of negotiations and many times reported that they expect to conclude the agreement.

 

the news of the signing of the agreement led to the rapid growth of market prices for soybeans and oil, followed by more expensive corn and wheat.

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