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London President Trump said Wednesday morning that a US trading “deal with China” was being carried out. The US manager offered some main details of a “Reduction Transaction” reached Among the oldest US and Chinese trade representatives in London on Tuesday, but he admitted that both he and the Chinese President Xi Jinping were still officially signed for an agreement.
US and Chinese trade teams in London were packed for two days in marathon talks close to Tuesday midnight and the parties said they had agreed on a new “framework deal” to facilitate Trade warfare between the two largest economies in the world.
Tension had only increased in the last few weeks, despite An agreement reached in Geneva During the first round of talks in May to detain the fastest revenge tariffs. These record tariffs are scheduled to return on July 9, unless it reached an agreement in London, which is not actually officially Trump and XI.
A month since Geneva’s talks, Beijing had reduced the export of critical rare elements in half compared to the previous year and the Trump’s administration said it “aggressively refers” Chinese student visas in the US, which were recognized as the Communist Party of China.
While Mr Trump’s best negotiators’ announcement on Tuesday night was a plan for a coherent framework, the president was plan said in office On Wednesday morning, it was “done with the final confirmation of President XI and me” on its social media platform.
Li ying/xinhua/getty
Mr Trump said the deal would see China will retain the current 10% tariffs for goods imported from the US, while the US will retain 55% tariffs for Chinese imports.
“President Xi and I will work closely to open China to American trade,” Mr Trump added in the next position. “This would be a great victory for both countries !!!”
The Chinese government was not an immediate confirmation of any rules agreed on the system, or President Xi planned to sign up for a deal.
In Geneva, Beijing and Washington agreed in May that their unprecedented tariffs were more than 100% of the other imports detained for 90 days. This reduced our tariffs to Chinese imports to the current 30% level after they rose briefly to about 145%.
Chinese tariffs are currently 10% after reaching 125% before the Geneva talks.
Speaking on Tuesday, Deputy Sales Li Chengangg, who participated in talks in London, approved a “principle” framework for the framework.
On Wednesday, the Chinese -led media announced that delegations had “made new progress” but did not offer details.
“The basic deal puts the meat on the agreement bones reached in Geneva last month to facilitate bilateral revenge tariffs,” said US trade secretary Howard Lutnik, a journalists in London on Monday, and then more than 12 hours until Tuesday.
Lutnik said part of the target target of this week was only a “negativity” of bilateral relationships that had been confused since Geneva’s conversations.
“Now we can continue to try positive trade, growing trade,” he said.
The US wants China to resume and increase rare land shipments. Materials are very important for industries, from weapons and space to electric vehicles and low consumer goods.
On Wednesday, in its entire capital letter social media, Mr Trump said that, according to an agreement reached in London, “Full Magnet and all necessary rare earth land will be delivered to China. We will also provide China to what was achieved, including Chinese students using our college and universities.”
“The relationship is great!” added by Mr Trump.
“There are rare land export release in US producers – stocks are falling rapidly – in exchange for space aviation details and semiconductor programming technology for China,” Investor told Carl Weinberg, the chief economy of the high -frequency economy. “A” failure “would increase the risk of car and aircraft to stop as soon as the next month. If this happens, economic growth will be severely reduced to an unknown deadline.”
