The Chinese authorities have announced that they have reached an agreement with the United States in their “trade war” arm wrestling match that has been going on since 2018. The announcement made on Thursday 7 November, has not yet been confirmed by US officials.
Beijing has agreed with Washington to lift their mutual punitive tariffs “in stages”, Chinese officials said on Thursday. The long-awaited agreement between the world’s two leading economic powers is expected to be completed. If it succeeds, it would be the end of a long Washington-Beijing trade war sparked by Donald Trump, who described the Middle Kingdom’s trade practices as “unfair”.
Recently, the Chinese Vice President and the US Secretary of State for the Treasury met on the phone to resolve the remaining differences. After the Beijing announcement, the focus is now on the White House. According to American sources, the signing of the agreement would take place November or December.