No 145% charges for China now? The US finally has a contract to reduce ‘trade deficit’
The agreement has been finalized between the US and China to reduce the trade deficit. According to US Treasury Secretary Scott Besant, he is engaged in an agreement with China after a two -day meetings, which will help reduce the trade deficit of the United States. However, he did not provide much information on the contract, and did not even say how the US trade deficit would be low.
US officials say that more information on the deal will be shared on Monday and US President Donald Trump is fully aware of the conclusion. The talks were attended by Chinese Deputy Prime Minister Hi Lifeng and two Chinese subdivisions.
US dollar 1.2 trillion trade deficit
The United States does not specify 145% of the fees imposed on goods imported from China and 125% on China’s US goods. US officials described the two -day conversation as “a compromise”, which will help reduce the 1.2 trillion US dollar trade deficit.
US trade representative Zaimison Graire said the differences between the two sides were not as big as much as they thought, so both sides were quickly consenting.
China’s USA tariff rate
The meeting in Geneva was face -to -face for the first time after taking Trump between the US and the senior economic officials of China. Trump has imposed tough rates on China several times during his tenure, of which 20% of the rates in February are 34% in April, which almost stopped trade between the two countries.
Trump in 80% payment mood!
China has already requested to reduce fees in the conversation. Trump pointed out on Friday that 80% of the fees on China are “well”, which can be hoped for Trump to reduce the fees on Chinese products by up to 80%. Now, in the United States and China, you can see what kind of agreement is made.
