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US and China may sign first phase of agreement before Christmas

Summary

U.S., China to sign first phase of trade deal: Trump Description video: 트럼프 \”미중 무역협상 1단계 합의 서명식 가질 것\”\n\nU.S. President Donald Trump has revealed he and Chinese President Xi Jinping will hold a signing ceremony to sign the first […]

U.S., China to sign first phase of trade deal: Trump

Description video:
트럼프 \”미중 무역협상 1단계 합의 서명식 가질 것\”\n\nU.S. President Donald Trump has revealed he and Chinese President Xi Jinping will hold a signing ceremony to sign the first phase of the U.S.-China trade deal.\nLee Seung-jae reports.\nEarlier this month U.S. Trade Representative Robert Lighthizer announced that Washington and Beijing will sign their Phase 1 trade deal agreement in the first week of January.\nThat signing has now been confirmed by President Trump,… who on Tuesday said he and Chinese President Xi Jinping have agreed to hold a ceremony to ink the deal.\nSpeaking to reporters at his Florida resort,… Trump says the two leaders will get together, adding the \”deal is done\” and is now being translated.\nOn Wednesday,… China’s Foreign Ministry spokesman Geng Shuang confirmed the statement from Trump,… saying both countries are in close contact,… and have been discussing detailed arrangements for the deal’s signing and other follow-up work.\nHowever, Beijing is yet to reveal the specifics of the deal,… saying it would be made public after the official signing.\nThe two countries announced earlier this month,… that the Phase One deal would suspend an escalation of the trade war between the two sides,.. and lower tariffs on a portion of affected products.\nThe 86-page agreement is expected to be signed next month at a ministerial level,… meaning it would not involve Trump or Xi.\nWhile the first phase would bring the trade spat to a halt,… the two countries expect at least two more stages.\nMeanwhile, Chinese tech giant Huawei,… which has long been the center of controversy between Washington and Beijing, is reportedly receiving tens of billions of dollars in financial assistance from the Chinese government.\nThe Wall Street Journal reports that Huawei has had access to as much as 75-billion dollars in state support,.. through grants, credit facilities, tax breaks and other forms of financial assistance.\nThe U.S. has long accused the Chinese tech giant of being a spy for Beijing,… and watchers say the latest report could back up those concerns.\nLee Seung-jae, Arirang News.\n\n#U.S #China #Trump\n \nArirang News Facebook: http://www.facebook.com/arirangtvnews

US and China may sign first phase of agreement before Christmas

The first phase of a trade agreement between the United States and China could be signed before Christmas, says the chief executive of bond investment giant Pimco.

Optimism about a productive dialogue between the two countries has faded recently amid reports that Washington and Beijing remain far apart on a number of issues. A source in the Chinese government said the country is concerned about the words Donald Trump regarding the fact that he does not agree to waive the applicable duties.

However, Pimco Managing Director and Vice President John Studzinski still believes the two parties will find common ground..

«Clearly there remain unresolved questions about agricultural procurement targets, forced technology transfer and broader enforcement issues.. But, I think that the first phase will be signed before the start of the Christmas holidays», – expert thinks.

The two largest economies in the world are in the second year of a trade war that damaged investor and business sentiment and slowed global economic activity. Both the United States and China have imposed multi-billion dollar tariffs on each other’s products. High duties are a safety cushion in case the agreement fails to be signed.

US and China may sign first phase of agreement before Christmas

Most economists are convinced that the global economy will become much stronger and more stable if the warring parties can find ways to align their interests rather than trying to compete..

Citing the technology sector as an example, John Studzinski said the US has three to four generations of technologists trained in Silicon Valley, while China has a fantastic track record of manufacturing the most complex components. He also added that the two areas of expertise will work well together for the development of economies around the world..