U.S. President Donald Trump and China President Xi Jin Ping agreed not to boost tariffs on the third list of duties from 10% to 25% on January 1st. Instead, both parties have agreed to immediately negotiate on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. The Presidents are hopeful to have these transactions completed within the next 90 days. If at the end of this time period, the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%.
To read the full announcement from the Press Secretary regarding the President’s working dinner with china:
To read several stories/articles:
https://www.bbc.com/news/world-latin-america-46413196
https://www.foxnews.com/world/us-china-put-brakes-on-their-trade-dispute-with-ceasefire
Flegenheimer Team
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