“We also need to be sure that the text of the agreement is the same in the Chinese and English versions – history has shown that differences become easy loopholes to exploit,” said Ker Gibbs, president of the U.S. Chamber of Commerce in Shanghai. In June 2019, Trump reportedly promised Xi Jinping in a private phone call that the United States would not give up criticizing China over Hong Kong during the ongoing trade negotiations. The following month, Trump said he believed Xi Jinping had acted “very responsibly” with the Hong Kong protests, adding: “We are working on trade deals. We`ll see what happens. Similarly, in November, he spoke publicly when he hesitated to criticize Xi against Hong Kong and linked the subject to trade negotiations: “We must support Hong Kong, but I also support President Xi.” He added that Xi was “a friend of mine, he`s an incredible guy” and called the protests in Hong Kong a “complicated factor” in trade negotiations. On January 10, 2020, when Laura Ingraham, on Fox News, was questioning Trump about “the human rights issue in China” and referring to “a million people in re-education camps, internment camps,” he replied, “Well, I`m riding a narrow line because we…” Great trade agreements. In the months that followed, the two countries were involved in countless back-and-forth 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. The Chinese Treasury Ministry announces that from January 1, 2019, it will eliminate for three months additional tariffs of 25 percent on U.S. cars and 5% tariffs on certain U.S. auto parts. During this period, imports of U.S.
cars will be subject to China`s standard tariff rate of 15 percent on foreign cars. The suspension of these tariffs affects 144 automotive products and 67 auto parts and marks the first concrete concession since the 90-day trade war concluded at the G20 of Heads of State and Government in Buenos Aires. The official announcement can be made here. China is also resuming the purchase of soybeans in the United States, with a significant purchase of 1.5 million tonnes of beans. In July 2018, China halted the purchase of U.S.-produced soybeans in retaliation for U.S. tariffs on Chinese imports, marking the start of the trade war as we know it. This timetable should not be fully consistent with U.S.-China trade relations. We agree that there are structural factors and measures that are ahead of Trump and Xi and that have contributed to trade tensions, including on the Chinese side. Time will tell whether the innovations in the implementation agreement will be successful where others have failed, and much will depend on China`s willingness to implement Slav agreements and, above all, to implement them. But the key question for the United States – especially today, when the U.S. economy is in its worst state since the Great Depression following the COVID 19 pandemic – is whether the economic cost it paid for these coercive agreements was the billion dollars that lost value, lost hundreds of thousands of jobs , the stagnation of manufacturing in the United States, and the devastating effects of the trade war on American farmers.
The agreement provides for increased legal protection for China`s patents, trademarks, copyrights, including improved criminal and civil proceedings to combat online violations, piracy and counterfeiting. While other presidents have tried to change China`s economic approach, sir.