The US Has Reached a Trade Deal "In Principle” with China
President Donald Trump has signed off on an initial trade agreement with China that would avoid imminent US tariffs and reduce the rates of existing duties in exchange for a Chinese promise to purchase American farm goods. This was announced today by a source familiar with the negotiations between the two countries, CNN reported.
President Donald Trump had a meeting today with his trade advisers. Before the meeting, the United States Trade Representative Robert Lighthizer presented the outlines of the partial deal which were approved by the President.
US negotiators have proposed cutting 50 percent of the customs duties on Chinese goods for about $ 375 billion, two sources said. They also proposed canceling the tariffs on $156 billion in goods that Donald Trump had threatened to impose on Sunday.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Trump Bans Tik Tok App, Stocking Tension with Beijing
- » Bulgarian Company is the Owner of the Ship That Carried the Ammonium Nitrate Responsble for the Explosion in Beirut
- » France: 16 Coronavirus High-Risk Countries with a Compulsary Testing on Arrival
- » Donald Trump Suggests Delay to 2020 US Election, Republicans: You Can't Delay It
- » Britain Tightens Measures Against COVID-19
- » European Commission Signs Contract with Gilead to Secure EU Access to Remdesivir