/ world right this moment information/ So, listed here are the primary conclusions a few commerce deal, based mostly on official feedback from Beijing and Washington, revealing solely sure factors of a commerce deal.
– The US cancels new 15% tariffs on $160 billion value of Chinese language items deliberate for December 15.
– The US will halve current tariffs of 15% on sure teams of products masking $120 billion of Chinese language imports (the tariff can be 7.5%).
– The US will preserve the present 25% tariff on different Chinese language items value a complete of about $250 billion. This step will depart the software to stress China throughout the “part two” negotiations.
– Beijing has dedicated to purchase US items for a “important quantity” that has not but been disclosed.
– Beijing is dedicated to reforming the mental property safety regime, additional opening up the monetary and repair sectors, taking measures to cease forex manipulation, in addition to imposing the switch of know-how from overseas firms.
In response to US Commerce Consultant Robert Lighthizer, the settlement additionally contains an enforcement mechanism that can be applied if China violates its obligations.
The textual content agreed by the 2 sides consists of 9 chapters: the safety of mental property, pressured switch of know-how, meals and agricultural merchandise, monetary providers, change charge and its transparency, commerce promotion, bilateral analysis and dispute settlement mechanism.
Translation: V.Sergeev
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