Chinese Officials Across The Globe Praise U.S.-China Trade Truce - FbiCables Network | The News that Shapes World Opinion

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Wednesday, May 23, 2018

Chinese Officials Across The Globe Praise U.S.-China Trade Truce

Chinese officials around the globe are reacting positively to what many are calling a “trade truce” between the U.S. and Beijing.
“This outcome is conducive to global economic and trade stability and prosperity,” said Chinese Ambassador to the U.K. Liu Xiaoming. “Trade consensus between China and the U.S., the two major economies in the world, is welcome news to all.”
Flags are placed for a meeting of US and Chinese industry representatives, in Beijing, on July 20, 2017. (Photo/Reuters/Jason Lee)
While in London on Monday, China’s ambassador to the U.K. praised the latest round of discussions, saying the agreement will promote healthier trade internationally.
“In this latest consultation, both China and the U.S. demonstrated the responsibility of major stakeholders,” Xiaoming stated. “This outcome is certainly in the interest of safeguarding international trade order and promoting a healthy world economy.”
This comes after President Trump announced trade barriers and tariffs with China will come down for the first time as the administration promises to hold off on new import taxes for the time being.
The U.S. and China recently held high-level talks in Washington D.C. in which Beijing agreed to help reduce the trade gap.
The proposal includes the East Asian country purchasing large quantities of U.S. farm and agricultural products. This includes as much as $90 billion worth, according to the predictions of some economists.
While President Trump remains hopeful the tentative deal will be one of the best things to happen to our nations farmers, China also has something to smile about.
Experts say the proposed tariff’s would’ve dealt a blow to the Chinese economy, which relies heavily on its exports — especially to the U.S.
The tariffs were expected to hit about 1,300 Chinese goods, including products used in fields where the Communist Party is trying to leave its mark such as in space tech and engineering.

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