Takeaways from latest US-China trade talks
- 5 years ago
After week-long negotiations in Washington, US President Donald Trump agreed to postpone a tariff increase on US$200 billion worth of imports from China, an increase that was scheduled to take effect on March 2 if both countries did not agree on a trade deal by March 1.
As the US and China concluded their latest round of trade talks, China promised to buy 10 million tonnes of US soybeans, but negotiators haven’t yet agreed on a specific time frame for the purchases.
Both countries are also hammering out details of “memoranda of understanding” in six areas, including non-tariff barriers, forced technology transfers and intellectual property protection.
Trump said he hopes to meet his Chinese counterpart Xi Jinping at his Mar-a-Lago resort in Florida later in March for a “signing summit” to seal their trade deal. However, he also cautioned that a trade deal is not yet certain.
As the US and China concluded their latest round of trade talks, China promised to buy 10 million tonnes of US soybeans, but negotiators haven’t yet agreed on a specific time frame for the purchases.
Both countries are also hammering out details of “memoranda of understanding” in six areas, including non-tariff barriers, forced technology transfers and intellectual property protection.
Trump said he hopes to meet his Chinese counterpart Xi Jinping at his Mar-a-Lago resort in Florida later in March for a “signing summit” to seal their trade deal. However, he also cautioned that a trade deal is not yet certain.