US-China agree to stop imposing additional tariffs on each other's goods?
Chinese media reported that US and Chinese leaders have agreed to stop imposing additional tariffs on each other's goods, but the US side has not yet confirmed this.
Xinhua News Agency and China's CGNT television channel today (December 2) quoted Chinese Foreign Minister Wang Yi as saying that the meeting between Chinese President Xi Jinping and US President Donald Trump last night (December 1) in Buenos Aires, Argentina achieved positive and constructive results.
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| Chinese President Xi Jinping (right) and US President Donald Trump. |
The leaders of the two countries have reached a common understanding, agreeing to stop imposing additional tariffs on each other's goods, and the two sides will continue negotiations. The US has not yet confirmed the above information, but White House economic advisor Larry Kudlow assessed that the meeting between Mr. Xi and Mr. Trump went well.
On November 26, US President Donald Trump warned that if the meeting between him and Chinese President Xi Jinping at the upcoming G20 Summit does not reach an agreement, the US will impose an additional 10% or 25% tax rate on $267 billion worth of Chinese goods.
Previously, the US also announced that it would increase the tax rate from 10% to 25% on 200 billion USD worth of Chinese goods from January 1, 2019./.
