The United States managed to achieve considerable progress in trade negotiations with China. This was stated by us President Donald trump, explaining that the parties had reached “the first meaningful stage of the agreement. “
Previously, the Agency Bloomberg reported that the US and China in the new round of trade negotiations in Washington have reached partial agreements in trade, which can allow to reach a truce in a trade war.
According to sources, under the agreement, China will make some concessions in agriculture, and the United States will provide a range of tariff exemptions. While trump said that the agreement with China will be formalized through an accelerated procedure.
“One of the important aspects associated with the agreement with China is the fact that for various reasons we don’t need to go through a very lengthy and politically sensitive approval process in Congress. When the deal’s done, I will put signature on behalf of our country”, – wrote President in his Twitter.
“Quick and clean!” concluded trump. He had not explained the reasons why the transaction does not require approval in Congress. And this despite the fact that the trade agreement the United States, Mexico and Canada (The United States – Mexico – Canada Agreement, USMCA) for more than a year awaiting the approval of U.S. regulators.
However, the Minister of Finance Steven Mnuchin already confirmed that America will not raise duties on Chinese goods next week.
“China’s Vice Premier Liu he requested, and President of the trump endorsed that while we go through the process of documenting, we’re not going to raise fees in the amount of 25-30% that was planned”, – said the head of the Ministry of Finance.