After the talks between China and the States on Friday, it was announced that the parties had not agreed on further terms of cooperation. However, it was noted that some changes had occurred and the agreement could be formed soon.
According to the results of the negotiations, the parties will make up a letter of intent. It will form the basis for the transaction, the details of which the leaders of the countries will discuss in person.
The continuation of the talks will take place on 22 February in Washington. Xi Jinping noted that the parties had already clarified the various nuances.
At the last meeting, the Chinese leader spoke with Robert Lighthizer and Steven Mnuchin.
The same persons will participate in the future meeting. China will be represented by Vice Premier Liu He.
As a result of Friday’s meetings, decisions about structural changes in the Chinese economy, initiated by America, were not agreed. The decision on these issues can be found by the heads of the states.
Last summer, the States imposed duties on goods from China amounting to $ 50 billion, raising the tariff to 25%. China responded with the same measures.
Later, the United States imposed additional duties amounting to $ 200 billion and set a rate of 10% ; then they announced its increase to 25% from 2019.
During the meeting at the G20 summit, the leaders managed to agree on a delay in increasing tariffs by America for 3 months. During this period, China and the United States have to form a new agreement. Thus, if there are no any agreements, the tariff increase will happen on March 1.
There were reports in the news that President Trump could postpone the growth of tariffs for another 2 months, but China asked to increase the delay by another 90 days.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade