Where things stand in the US-China trade war

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BEIJING: The United States and China have agreed to reduce revenue on each other’s goods, which has eased trade war, which has promoted hundreds of billions of global markets and supply chain.

What has been announced?

Washington and Beijing announced on Monday that they would reduce import tariffs on each other’s goods by 115 percent of points for 90 days.

From Wednesday, the United States will reduce duties on products up to 30 % from China, and China will reduce its income by 10 % on US imports.

US President Donald Trump had previously slapped 145 % of the rates on most Chinese goods, with a total of 245 % surprising on some products.

Beijing heard 125 % duties on US goods.

The joint statement said that the United States and China will also formulate a procedure for regular trade talks in every country or in a unanimous third country.

How did the conversation happen?

US Treasury Secretary Scott Basant said that the weekend talks with the Chinese Deputy Prime Minister and international commercial representatives were “productive” and “strong”. He told reporters in Switzerland, where the talks were held, “both sides showed great respect”.

Beijing said the negotiations have made “good progress”, adding that the reduction met “the interests of both countries and the common interest of the world”.

Its Ministry of Commerce called on Washington to “continue to work with China and completely correct the wrong process of increasing the unilateral tariff”.

The ministry said, “It is hoped that the United States will maintain a healthy, stable and sustainable development of China’s economic and trade relations.”

How did the markets react?

World stock markets rallied on the announcement.

Tai Hui, the chief market strategy of Asia Pacific in the JP Morgan Asset Administration, said the deduction is “more than expected”, which reflects the understanding of Washington and Beijing about the impact of revenue on global economic growth.

Societies General’s Chief Asia Pacific economist V Yao said that these shortcomings would give both economies “good relief”.

And ANZ Bank analysts predicted that “both sides will focus on the establishment of a trade template, and a final agreement will be signed before the US 2026 mid -term elections.”

However, Dan Wang Wen of the Chong Yang Institute for Financial Studies at Renaman University, China, has warned that the deal does not mean “resolving structural contradictions between China and the United States.”

Is the trade war over?

It is not explained in a far -fired statement that after 90 days of suspension of taxes, it is not explained.

“The United States still has a lot of taxes on China than in other countries,” said Mark Williams, the capital of the capital Economics, and they are still trying to rally to other countries to introduce their sanctions on trade with China. “

“In these situations, there is no guarantee that the 90 -day war will provide a way to late ceasefire.”

The statement does not include US taxes on sector on Chinese steel, aluminum and car imports.

Meanwhile, China lodged complaints with the World Trade Organization (WTO) against us against the “bullying” strategy.

And it has gone after US companies, eliminating the Boeing aircraft orders, investigating Google “anti-monopoly” violations, and adding the fashion group PVH Corporation-which owns Tommy Halfgar and Calvin Klein.

Beijing has also banned the export of rare elements of the land – which is important for making widespread products, including semiconductor, medical technology and consumer electronics.