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US, China Reach Partial Trade Deal; Avoid Tariff Increase

US, China Reach Partial Trade Deal; Avoid Tariff Increase

WASHINGTON — U.S. President Donald Trump announced Friday that Washington and Beijing had reached a substantial phase-one trade deal, covering agricultural purchases, currency and some aspects of intellectual property protections.

China would increase significant purchases of U.S. agricultural goods and agree to certain intellectual property measures and concessions related to financial services and currency. In exchange, the U.S. would delay a tariff increase.

Chinese Vice Premier Liu He leaves after a ministerial-level trade meeting at the Office of the United States Trade Representative, in Washington, Oct. 11, 2019.

Chinese Vice Premier Liu He leaves after a ministerial-level trade meeting at the Office of the United States Trade Representative, in Washington, Oct. 11, 2019.

At the meeting with Chinese Vice Premier Liu He at the White House, Trump said he and Chinese President Xi Jinping might sign the first phase of the trade agreement on the sidelines of the Asia-Pacific Economic Cooperation meetings this November in Chile.

As part of the deal, China would agree to some agricultural concessions and the U.S. would provide some tariff relief.

 

Aliqismet BADALOV,
“Khalq qazeti”

12 October 2019 16:26 -

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