WSJ: the US may temporarily waive the imposition of duties in respect of goods from China

According to the newspaper, the Washington and Beijing for several weeks been negotiating on this bill before the expected meeting of the President of the United States Donald Trump and Chinese President XI Jinping at the G20.

The US is considering the possibility of concluding agreements with China, providing for a temporary waiver of Washington from further introduction of import duties on Chinese goods. This was reported on Thursday in the electronic version of the newspaper The Wall Street Journal.

According to its sources, the US and China have been negotiating on this issue for several weeks before the expected meeting of US President Donald Trump and Chinese President XI Jinping at the G20 summit in Argentina.

As the newspaper notes, the parties are discussing the possibility that Washington will not impose further duties on goods from China, expecting instead to hold talks with Beijing about serious changes in Chinese economic policy. Such consultations may relate to the protection of intellectual property, technology transfer, subsidies to state enterprises, as well as the problems of cyber espionage, the newspaper writes. At the same time, according to the WSJ, final agreements on this matter have not been reached.

Negotiations between the US and China on trade issues was suspended in mid-September, when it was canceled the visit of a Chinese delegation to Washington (headed by Vice-Premier of the state Council Liu) in response to the introduction of Trump administration increased duties on imports from China.

24 September in the US entered into force a customs duty of 10% on imports goods from China which total cost is estimated at $200 billion. China responded with a tariff of 5% to 10% on imports from the US amounting to $60 billion Trump expressed the intention to begin a new phase of implementation of restrictive measures and, if Beijing decides to go on reciprocal steps to impose additional tariffs applied to Chinese goods and services. Earlier, trump said that his administration is studying the introduction of a 25% duty on the import of passenger cars to protect the UDauto industry.

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor