China increases imports of American goods to establish a 'trade balance'

After two days of negotiations, the United States and China managed to eliminate fundamental differences in the field of bilateral trade and sign a “trade balance” agreement.

Фото: Depositphotos

The joint statement said China agreed to “significantly increase” imports of American goods and services to achieve balance, which was the main demand of the American delegation that arrived at the talks in Beijing, writes “Currently,".

The details of the deal have not yet been disclosed, so it is not known how significant in monetary terms are the concessions that China has made. The US side mentioned the number of billions of dollars in 200, but the Chinese Ministry of Foreign Affairs did not confirm this information.

According to the joint statement of the parties, “China, in order to meet the growing material needs of the Chinese people and ensure high levels of economic development of the country, will significantly increase purchases of American products, which, in turn, will help accelerate growth rates and increase employment in the United States.”

The priority areas of Chinese imports will be American agricultural products and energy.

Earlier, Washington and Beijing threatened each other with the introduction of higher trade duties worth tens of billions of dollars. Ministry of Commerce of China reported that the country's leadership plans to introduce a 25 percent duty on American pork, as well as a 15 percent duty on fruits, wine and steel pipes from the United States. In total, this should have brought the Chinese budget about 3 billion dollars. The President of the United States, Donald Trump, also responded with a task to develop measures to limit Chinese investment in the United States.

But after Trump helped lift the sanctions on the leading Chinese telecommunications company ZTE, which illegally re-exported American technology to Iran and North Korea, negotiations began between the countries.

Trump has repeatedly criticized trade relations with China, insisting that they do not bring benefits to the American side.

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