End of the trade war? China and the US are close to a deal
According to the results of recent negotiations, a situation is possible with the abolition of mutual tariffs for the total volume of supplies in the amount of more than $ 200 billion between China and the United States.
On the part of the Chinese government, there is a proposal to reduce tariffs on American agricultural machinery, chemical and automotive products. Washington, on the other hand, has pledged to lift most of the temporary sanctions imposed on China to restrict trade.
According to the source, the text of the agreement may contain a condition on the complete removal of restrictions on the ownership of cars by foreigners and a reduction in the duty on the import of foreign brands to 15 percent. The expected measures should significantly revive the trade turnover and quotes on the exchanges.
The agreement should be signed as soon as possible.