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G20: US and China agree to suspend new trade tariffs
« on: December 02, 2018, 12:50:18 pm »
US President Donald Trump and his  Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says.

The two men met in Buenos Aires after the G20 summit for their first talks since a trade war erupted this year.

China says they agreed not to impose any new trade tariffs after 1 January.

At the summit earlier on Saturday, the G20 leaders agreed a joint declaration that notes divisions over trade but does not criticise protectionism.

What was agreed?

Ahead of the G20, Mr Trump had told US media he expected to go ahead with plans to raise tariffs on $200bn (£157bn) of Chinese goods - first introduced in September - from 10% to 25%, starting in January.

The White House says this move is now suspended for 90 days but adds, "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25  percent."

In return, the White House adds, China agreed to buy an unspecified but "very substantial" amount of agricultural, energy, industrial and other products.

More at  https://tinyurl.com/yd42e6b9



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Re: G20: US and China agree to suspend new trade tariffs
« Reply #1 on: December 03, 2018, 11:08:32 am »
so now there is the proverbial Sword of Damocles hanging over global markets? ???

what a monumental mess this is ..... :o
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."