China Is Making Trade Concession To The United States
China Is Making Trade Concession To The United States. China and the United States agreed on Saturday to take measures to reduce the trade inadequacy of the latter. INC News writes, negotiations have come that China will buy more American goods.
“To meet the growing consumption of Chinese people, China will significantly increase the purchase of American goods and services,” reads a joint declaration from the countries.
Many details are not given, except that it will be partly agricultural and energy products.
A Chinese delegation was present on Thursday and Friday for talks about the trade deficit in Washington. Chinese Vice Premier Liu He, among others, attended these meetings.
The agreement appears to be a gesture from China towards the US, after many unfriendly moves by both countries.
The US, for example, announced earlier that it would be mainly taxing Chinese high-tech products. In response, China declared new import duties on American goods.