CNBC TV was the first to sign the decree, and the White House officials confirmed this information, among others Reuters agency. Document signed hours before the suspension expires 145 percent. customs duties on goods from China extended the truce in the trade war between the powers, concluded during the first talks in May in Geneva.
Under the contract with Beijing, The US agreed to lower duties to 30 percent, while China to 10 percent. China agreed to relax export restrictions to magnets and minerals used, among others in the automotive and reinforcement industry, and the USA – to abolish export restrictions, among others aircraft engines or some semiconductors.
The spectrum of the trade war between China and the USA
Although the delegations of both countries met in Stockholm at the end of July to extend the agreement, until Monday it was unclear whether it would happen. These talks were also to concern broader issues, including the buying of Russian and Iranian oil by China. The ongoing truce is to give time to both parties to develop a comprehensive trade agreement.
When asked about the case on Monday, President Donald Trump replied that “we would see what would happen”, but also claimed that he was going well with China and had good relations with the leader of the PRC XI Jinping.
Trump also confirmed that he agreed to export chips used in the construction of AI systems in exchange for payment by NVIDIA and AMD 15 percent. sales revenues. On Tuesday, he also suggested that China can buy more soy than American farmers. In recent days, Trump has also repeatedly announced that he would meet XI before the end of the year.
