TRUMP: USA reach trade deal with China
– We have agreed to a very large Phase One Deal with China – U.S. President Donald Trump tweeted Friday morning.
Officials in China have “agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more,” he said, Reuters reports.
In the meantime, the United States Trade Representative (USTR) announced that the United States has agreed to modify its Section 301 tariff actions in a significant way and that China will make substantial additional purchases of U.S. goods and services in the coming years.
Under the agreement, the United States will be maintaining 25 percent tariffs on approximately USD 250 billion of Chinese imports, along with 7.5 percent tariffs on approximately USD 120 billion of Chinese imports.
The press release adds that the trade deal requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange. Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement, the USTR said.
Most Important News
11.03.2024. | Healthcare
Are Marketing Experts Reading Our Minds? – eKapija Investigates: What Neuromarketing Is and How Much It Is Used in Serbia
11.03.2024. | Construction, Transport
Tender for Continuation of Construction of Patrijarha Pavla Blvd Stopped – Contractors Demanding Price Higher Than Estimated
11.03.2024. | Construction, Transport
11.03.2024. | Construction, IT, Telecommunications
Auction for 5G Network by End-Year, Minister Announces
11.03.2024. | Construction, IT, Telecommunications
28.03.2024. | Construction
Beginning of Construction of First “Green Dam” in Serbia Which Will Supply 500,000 People with Drinking Water
28.03.2024. | Construction
17.01.2024. | Industry, Healthcare
Ceremony of Opening of Centers of Excellence in Kragujevac Planned for Spring – Official Beginning of Operations in June
17.01.2024. | Industry, Healthcare
27.03.2024. | Industry, Transport, Finance
City to Waive Over 30 Zemun and Palilula Bus Lines to Private Transporters – Draft Public-Private Partnership for 10-Year Period Ready, Job Worth Half a Billion Euros
27.03.2024. | Industry, Transport, Finance