US and China end trade war

Lilia
By Lilia January 16, 2020 13:26

US and China end trade war

The US and China have signed an agreement to halt the trade war that has weighed on the global economy for nearly two years. The -called phase one deal leaves in place tariffs on hundreds of billions of dollars of Chinese imports, however. The deal includes stricter rules on intellectual property in China to a pledge by Beijing to purchase at least $200bn in US goods and services over the next two years, as well as a commitment by China not to manipulate its currency. 

The deal has been welcomed by Boeing. President and CEO Dave Calhoun said that the company “applauds Presidents Trump and Xi as well as Vice Premier Liu, Secretary Mnuchin and Ambassador Lighthizer for their leadership in building a fair and mutually-beneficial trading relationship between the United States and China”.

Lilia
By Lilia January 16, 2020 13:26