Trump talks up trade truce with China. Reality is more unsettling
(CNN)At the post G20 Summit in Buenos Aires, US President Donald Trump held what the White House called a “very successful meeting” with Chinese leader Xi Jinping and agreed that current US tariffs on $200 billion worth of Chinese imports of 10% will remain unchanged for 90 days. Tariffs were due to be raised to 25% on January 1.
According to the White House, there will be a substantial increase in American exports to China of agricultural, energy, industrial and other products which will reduce the trade deficit in favor of China. The White House statement declares both sides will begin negotiations to resolve differences on forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft.
Chinese state media reported Sunday that the two countries had reached “consensus on economic and trade issues” and that “healthy and stable economic and trade relations conform to common interests of the two countries and the whole world.”
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