The mutual delay of tariff increases by Beijing and Washington has a positive effect for the further bilateral trade talks, a spokesman for the Chinese Commerce Ministry, Gao Feng, said on Thursday
BEIJING (Pakistan Point News / Sputnik - 04th April, 2019) The mutual delay of tariff increases by Beijing and Washington has a positive effect for the further bilateral trade talks, a spokesman for the Chinese Commerce Ministry, Gao Feng, said on Thursday.
"On March 5, the United States officially announced that it would postpone the deadline for raising tariffs on Chinese goods exported to the United States up to 25 percent. The precise deadline will be announced later. In turn, the Chinese Customs Tariff Commission of the State Council announced on March 31 its decision to prolong freeze on raised tariffs on US cars and spare parts. The mentioned moves of the both parties will undoubtedly create a positive environment for the Chinese-US trade and economic consultations," the spokesman said.
He added that Beijing was ready to make joint efforts aimed at implementation of the agreements reached by the countries' presidents during the last year talks in Argentina.
China and the United States have been engaged in a trade war since US President Donald Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. Since then, the two countries have exchanged several rounds of trade tariffs.
In early December, Trump and his Chinese counterpart, Xi Jinping, called for a truce in their escalating trade war after their meeting on the sidelines of the G20 summit in Buenos Aires. The further trade restrictions are now frozen.
