What Is The Current Trade Agreement With China

April 15, 2021

The United States has agreed not to impose tariffs on US$160 billion of US$160 billion in consumer goods, which are expected to come into force on December 15, and will halve tariffs on $120 billion worth of Chinese goods on September 1, and halve them. 15 to 7.5 per cent. However, tariffs of 25% on Chinese imports of $250 billion will be maintained and further reductions will be linked to progress in future trade negotiations. This call is a signal that both sides continue to commit to the implementation of the agreement. In the months that followed, the two countries were involved in countless round-trip negotiations, a customs war, upside-down tariffs, the introduction of foreign technology restrictions, several WTO cases, which brought trade tensions between the United States and China to the brink of a major trade war. While updates on the trade war have informed investors of much of the past two years, the official signing of the agreement has been greeted with a shrug. The S-P 500 increased by about 0.2%. An indicator for semiconductor companies, which were particularly sensitive to the trade war, fell by more than 1 percent. U.S. sales of medical aid to China also exceeded 2020. Similarly, exports of products needed to diagnose or treat diseases related to COVID-19, such as test kits. B and drugs, such as test kits and drugs, have followed the estimated targets (see Figure 2). But then again, the likely explanation was increased Chinese demand caused by an unexpected pandemic.

These sales could disappear just as quickly as the health situation stabilizes. The EU is in favour of opening trade relations with China. However, the EU wants China to act fairly, respect intellectual property rights and meet its obligations as a member of the World Trade Organization (WTO). Some of the products on some lists, however, have been repeated in others, and that is what puzzles me. U.S. and Chinese negotiators continue trade talks in Washington from Wednesday, April 3 to Friday, April 5, a week after negotiations in Beijing. On Thursday, Trump met with Liu He and said the two sides would know “in the next four weeks” whether they could reach an agreement.