Trump agreed not to raise duties for China

© RIA Novosti / Vladimir Astapkovich in Photobacterium USA Donald trump at the ceremony of the meeting of heads of delegations of the States members of the Group of twenty. November 30, 2018Trump agreed not to raise duties for China© RIA Novosti / Vladimir Astapkovich the image Bank

Donald trump has agreed not to raise tariffs against China from 10 to 25% since January, said the press Secretary of the White house Sarah Sanders.

Thus, tariffs on goods imports $ 200 billion a year will remain at 10%.

The U.S. also warned that if in the next 90 days is not reached agreement with China on certain trade issues, fees will increase to the previously planned level, with 10 to 25%.

Also, according to Saunders, China agreed to buy a «very significant» amount of agricultural and other goods from the United States to reduce the trade imbalance.

«China will negotiate the purchase of an inconsistent, but very significant volume of agricultural, energy, industrial and other products from the United States to reduce the trade imbalance between the countries,» she said.

Sanders said that China has agreed to purchase the agricultural production of American farmers «promptly».

The meeting between the two leaders

On the sidelines of the G20 summit in Buenos Aires was the meeting of Donald trump with the President of China XI Jinping, which lasted 2.5 hours. The parties agreed not to impose additional duties on the first of January, and also to speed up negotiations for the abolition of all additional fees.

Also, in particular, the Chinese leader agreed to include fentanyl (an opioid analgesic) substances which distribution is controlled by law. According to the statement, this means that the people selling this stuff in the U.S., will be subject in China to the maximum punishment under the law.

In addition, XI Jinping said he was ready to endorse the earlier missed the acquisition of the American manufacturer of processors and components for mobile devices Qualcomm, a Dutch semiconductor manufacturer NXP Semiconductors, which was not held because companies failed to obtain permission from the Chinese market regulator State Administration for Market Regulation (SAMR). Approval of the SAMR, it was necessary to close the deal, as China accounts for almost two thirds of the revenue Qualcomm. The head of China has said it wants to revisit that deal.

Trump has called a meeting with Chinese counterpart «wonderful» and «productive.» In turn, Chinese foreign Minister Wang Yi said that the conversation was held in a friendly and sincere atmosphere, and the talks were extremely positive. According to him, the leaders agreed that relations between the two countries need to develop, and they will be established.

War duties

In the summer the US imposed duties of 25% on 818 import of goods from China total volume of supply in 34 billion dollars a year. As a countermeasure Beijing the same day, imposed a duty of 25% on import of equivalent amount of American goods.

In late September, entered into force the new US tariff of 10% on goods from China import volume at $ 200 billion a year. China imposed duties of 10% and 5% on American imports with a volume of $ 60 billion.

Just a few days before the meeting, trump did not rule out introduction of additional duties on Chinese products worth 267 billion dollars, including parts for the iPhone if the deal with China is not concluded. According to him, it can be duty of 10%.

Trump agreed not to raise duties for China© Infographical war, the United States