Trade dispute: USA and China approach the trade dispute

In a joint declaration, the US and China announced that the US trade deficit would be significantly reduced. Previously, delegations from both countries had met.

Trade dispute: USA and China approach the trade dispute

The US and China have reached agreement on trade dispute. In a joint declaration, countries agreed that y had found a consensus on measures to reduce US trade deficit with China. China will significantly increase import of goods and services from United States, it was said in communication published by White House. This step will promote growth and employment in United States. Details of agreement will be elaborated in furr talks in Beijing.

Trump accuses China of profiting from open markets in west--but to foreclose its own market and steal intellectual property. Most recently, world's largest economies had threatened to impose billions of dollars on several products. With joint declaration, both sides are now moving towards each or.

High-level US and Chinese delegations met in Washington on 17 and 18 May. The American side also dealt with Finance Minister Steven Mnuchin, trade Minister Wilbur Ross, and Trade Commissioner Robert Lighthizer. At head of Chinese team was vice Premier Liu He, who had been sent by President Xi Jinping.

China was 2017 with a volume orders 636 billion dollars most important trading partner of USA. However, US imported far more products from China than y did re: deficit last year was around 375 billion dollars. Trump repeatedly denounced this imbalance.

On Thursday, Trump had again criticized EU trade policy-especially German car manufacturers. "It is very difficult for us to sell cars in European Union," he said. Umgekehrtgebe's many sales of German vehicles, for example from Daimlerund BMW, to USA. The EU had treated United States "terribly" in trade policy, Trump said.

Date Of Update: 20 May 2018, 12:02
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