U.S., China Make Progress on Trade; Coalition Letter Urges Resolution to Ongoing U.S.-China Trade DisputeWednesday, December 5, 2018
(North American Meat Institute)
President Donald Trump and Chinese President Xi Jinping, during a meeting at last week’s G-20 Summit in Argentina, agreed to postpone escalating tariffs while the two countries work to resolve their ongoing trade dispute. The U.S. said it will not increase tariffs on $200 billion worth of Chinese imports from 10 to 25 percent on January 1, as initially planned. Instead, the U.S. and China will begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. The negotiations are slated to conclude within 90 days. If the two countries do not reach agreement at that time, the 10 percent tariffs on Chinese imports will then increase to 25 percent.
Ahead of the G-20 Summit, Americans for Free Trade, a coalition of nearly 150 organizations representing U.S. manufacturers, farmers, retailers and consumers, sent a letter to President Donald Trump, encouraging him to work with Chinese President Xi Jinping to resolve the countries’ ongoing trade dispute. The Coalition advocated for the removal of tariffs imposed this year and urged against the imposition of additional tariffs in 2019.share on facebook share on twitter