• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Sunday, January 29, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

US and China halt imposing import tariffs

Delali Adogla-BessabyDelali Adogla-Bessa
May 20, 2018
Reading Time: 2 mins read
ShareShareShareShare

China and the US say they will halt imposing punitive import tariffs, putting a possible trade war “on hold”.

The deal came after talks in the US aimed at persuading China to buy $200bn (£148bn) of US goods and services and thereby reduce the trade imbalance.

US Treasury Secretary Steven Mnuchin did not give figures, but said the US would impose tariffs worth $150bn if China did not implement the agreement.

Chinese Vice-Premier Liu He described the deal as a “win-win choice”.

Washington says the agreement will “substantially reduce” its $335bn annual trade deficit with Beijing.

Mr Mnuchin told Fox News the two sides had made “very meaningful progress” and we agreed a framework deal under which China would buy more US goods “to substantially reduce the trade deficit”.

But he added: “We are putting the trade war on hold. Right now we have agreed to put the tariffs on hold while we try to execute the framework” of the agreement.

Mr Mnuchin said the two sides had agreed concrete numbers, which he did not want to disclose. US Commerce Secretary Wilbur Ross would travel to China soon, he said, to work on details.

The US has announced tariffs on imports of steel and aluminium. Countries accounting for the bulk of those imports have been exempted, but China is not among them.

Beijing has threatened equal retaliation, including tariffs on a number of US imports – among them aircraft, soybeans, cars, pork, wine, fruit and nuts.

US President Donald Trump has also said he wants to persuade China to end what he calls the theft of American intellectual property – such as technology and copyright.

Mr Mnuchin said the new framework agreement included that priority, as well as structural changes to Chinese economy to enable fair competition for US companies.

This, however, would take time, China’s vice-premier said.

Mr Liu said his visit to the US had been “positive, pragmatic, constructive and productive”.

Referring to the “healthy development of China-US economic and trade relations”, he said the two countries “should properly handle their differences through dialogue and treat them calmly in the future”.

–

Source: BBC

ShareTweetSendSend
Previous Post

Veteran actor Super OD laid to rest [Photos]

Next Post

Shame officials behind GHc4.6bn Sibton interoperability deal – Budu Koomson

Related Posts

International

Potentially classified files found at Biden private office

January 10, 2023
Top Stories

Covid-19: Don’t go to China if your trip is not essential – Govt warns

January 4, 2023
Top Stories

GHS to review Covid-19 measures as cases soar in China

January 2, 2023
Business

GUTA requests advice from GHS ahead of lifting of travel ban to China

December 30, 2022
Top Stories

Akufo-Addo attends US-Africa Leaders’ Summit in Washington

December 12, 2022
International

Protesters openly urge Xi to resign over China Covid curbs

November 27, 2022
Next Post
Captain Budu Koomson

Shame officials behind GHc4.6bn Sibton interoperability deal - Budu Koomson

TOP STORIES

Niger eliminates Black Galaxies from CHAN 2022

January 28, 2023

Wassa Agona robbery: Police arrest four suspects

January 28, 2023

NDC national officers rushed with Minority leadership shake-up – Mahama Ayariga

January 28, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT