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The “Phase One” of the U.S.-China trade deal has it that the Chinese government is pushing U.S. President Donald Trump to erase imposed tariffs in September.
One of the highlights of the trade deal that will be signed by Chinese President Xi Jinping and Donald Trump is the inclusion of the White House’s abolishing tariffs slated on Dec. 15. It is about $156 Billion worth of Chinese imports which include mobile phones, computers, laptop, and toys.
One source familiar with the trade talks bared that Chinese officials want the U.S. to erase 15% tariffs on about $125 Billion worth of Chinese goods which was implemented on Sept. 1. China also wants to ease tariffs on $250 Billion imports from machinery and semiconductors to furniture.
“It’s in both countries’ interest to have this trade deal,” Ralph Winnie, director of the China program at the Eurasia Center said.
Earlier last week, Trump already remarked trade deal between the U.S. and China as a good ongoing deal that would be sealed during the signing on a date yet to be specified.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
KYC Policy