After being involved, for months, in a mutual commercial war, the United States and China have come to an understanding at last. Easing of tension has come from both parts. On the one hand, China pledges to increase their imports of commodities made in the USA (for the records, still they have not agreed upon categories of goods) to even up the balance of trade between the countries; on top of that, they will soon remove the 40% duty on imports of cars manufactured in the States. On the other hand, the USA are going to suspend the customs duties increase, from 10% to 25%, scheduled on January 1st: such measure, which is also about to affect several leather products (not footwear though), will be suspended for 90 days, while waiting for both partners to work out the issue successfully. The delegations of US and Chinese governments have come to this decision after talking, for over two hours, in Buenos Aires, during the G20 summit. As reported by AGI press agency, they have now scheduled some quarterly negotiations to sign a new commercial deal between both partners.
We All Loved Each Other So Much: at G20 summit China and the USA opt for a truce to suspend, for 90 days, customs duties raise
