now back to the g20 summit which happened over the weekend and on the
sidelines of that was the main event really US President Donald Trump and
Chinese leader Xi Jinping reached a deal to keep their country's trade tensions
from escalating at least for a while go to you and he with the details is the
trade war between the world's two largest economies finally coming to an
end the US and China on Saturday put a temporary halt on new tariffs after
their leaders met in Argentina the White House released a statement saying that
on January 1st President Trump will leave tariffs on 200 billion US dollars
worth of Chinese goods at 10 percent this means he's holding off on his
previous vowed to raise the tariffs to 25 percent the statement added that
Beijing agreed to by an unspecified but very substantial amount of agricultural
energy industrial and other products from the US to reduce the trade
imbalance Trane ago she ations are expected to continue on tough issues
including top US concerns related to forced technology transfers and
intellectual property the White House statement says that if the two countries
cannot come up with an agreement in the next 90 days the 10 percent errors will
be raised to 25 percent Chinese state councilor in foreign minister Wang Yi
also confirmed Saturday that the two leaders agreed to stop imposing
additional tariffs on each other Wang said the discussions were very
positive and constructive meanwhile according to Bloomberg economics the
Trump administration's tariffs at twenty five percent would have meant a drag on
China's GDP growth of 0.9 percentage points a year the 10 percent tariff will
mean it takes a hit of just half a percentage point either way the trade
war affects South Korea as well because many local companies rely greatly on
exports to these economies there are still risks though since the terms can
go up after 90 days Carini arirang news



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