Where to trade bbc
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
