China and America agree on economic truce.
Written by  May 20, 2018 - 134 Views

China and America agree on economic truce

This is a truce between the United States and China, after a cold economic war, after agreeing not to impose additional customs duties on each other, the official Xinhua news agency quoted Chinese Vice Premier Liu Hee.

The agreement is in the interest of Washington, which is suffering from a trade deficit with China.

The deal, signed by Beijing and Washington, is a concession by the Chinese giant, who agreed to the principle of reducing trade deficit, but without committing to any number contrary to what President Donald Trump has demanded.

The White House wants to cut its deficit by about 200 billion dollars with the Asian giant, as the US trade deficit with China last year about 375 billion dollars.

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