trade

US China Trade Deal - BBC News

the US and China have signed a partial

trade deal aimed at easing the 18-month

trade conflict between the world's two

biggest economies president Trump and

China's Vice Premier attended a ceremony

at the White House and mr. Trump said

the agreement was a momentous step

towards a future of fair and reciprocal

trade between the US and China our

global trade correspondent dachang david

has this assessment from American

farmers producing soya beans or pork to

car manufacturers and Chinese factory

workers making our electronic gadgets

these are the people and businesses

bearing the brunt of the trade war it's

fair goods on which extra charges or

tariffs have been imposed and those

costs have added over $800 to the

average American families annual bills

and according to one estimate cost up to

300,000 US jobs

with the pain mounting for those the

trade dispute was meant to help

President Trump has agreed a truce today

we take a momentous step one that has

never been taken before with China

toward a future of fair and reciprocal

trade as we sign phase one of the

historic trade deal between the United

States and China the relief may be

mutual the Chinese people have seen

their incomes grow at the slowest rate

in three decades in the face of the war

triggered by President Trump to protect

American jobs and companies from what he

viewed as unfair competition but is this

a victory or a climb down from the US

President and is the relationship

between the superpowers being

significantly overhauled well China has

promised to buy another two hundred

billion dollars worth of US agricultural

Goods and industrial goods worth some

seventy five billion dollars but will it

actually keep to those promises in

return the u.s. is having its tariffs or

import taxes on a hundred and twenty

billion dollars worth of Chinese goods

but it will continue to levy

25% tariffs on products worth another

250 billion dollars meanwhile president

Trump's biggest and thorniest complaint

but China unfairly subsidizes its

industries has not been resolved and

it's unlikely to be anytime soon but it

will take a number of months for us to

see how the agreements working out in

practice and then with respect to the

remaining issues that are supposed to be

in phase two I think that's frankly

going to take quite a long time because

I think our governments are still very

far apart

with an American election looming this

ceasefire may be as much political as

economic president Trump's yet to

achieve his ambition of rewriting the

trade rulebook those hoping that the UK

and America can forge a mutually

beneficial relationship after brexit

will be watching closely

doechigi David BBC News