China to postpone additional tariffs on US imports from December 15
(VOVWORLD) -A day after the US and China announced a partial agreement, also known as a "phase 1 agreement", to avoid a new US tax on Chinese exports to the United States, Beijing on Sunday announced the decision to postpone the additional tax on US goods imported into China, which is expected to start from this time.
 Goods are loaded at the port in Shandong, China. (Photo: AFP /VNA) |
The statement stated that Beijing hopes on the basis of equality and mutual respect, the two sides work together to thoroughly solve the issues of mutual concern as well as promote the stable development of relationship, trade and economy between the world's top two economies.
Earlier on Saturday, the US and China announced that they had reached a "phase 1 agreement" whereby China agreed to a lot of structural changes as well as agreed to buy large quantities of agricultural products and industrial, energy and many other American goods. In return, the United States will restrict some of the tariffs that have been imposed on Chinese goods, while maintaining the 25% tariff that was previously applied to Chinese goods.