China's government said on sundayit will postpone planned punitive tarrifs on US-made automobiles and other goods following an intermtradedeal with Washington. fChina commerce ministry have yet to the breakthrough in the trade prctice and in November exports fells and the fourth us straight fall and the experts trade US novaevided 23% as the trade war dispurted supply chains and left investors on edge.
however, trueless over the most controlversial Chinese trade pratice --- including steep state subsidies --- have been left to future talks.
The announcement came after Washington agreed to postpone a planned tariiff hike on $160 billion of Chinese goods and to cut in half penalties that already were imposed.
"China hopes to work with the US on the basis of equality and mutual respect to properly address each other's core con-cerns and promote the stable development of Chineses-USeco-nomic and trade relations,"said a statement.
US officials said that under Friday's agreement, china committed to buy $40 billion of American farm products over the next two years.
Trumph has cancelled a new round of tarrifs that had ben due to kick on sunday and would have affected smartphones,toysand laptops among other goods, while beijing also called off leevies planned in retaliation.In another major concerns Washington will also called slash in half the 15% tariffs imposed in 120% billion in chinese that were imposed on september 1.
"The worst is not yet over and 2020 looks set to the another tough years."
Caption
US President Donald Trump with chinese President Xi Jinping.China will suspend the planned addition of 10%and 5% tariffs on some US imports.
FOR EQUITY MARKETS:
Equtiy markets are expected to susfains their positive momentum this week after this weeks the US and china reached the higher trade deal, analysis said.
"The recent development on the global front have subside the fear of prolonger criss and that cheered the paticipants across the world markets included ours.
we feel the positive movement to extend further in the coming week too
The current market momentum can sustain this week as well, provided there is more clarity on the US -China trade settlement ,said Siddhratta khemaka head of reatil reasearch,Motiala Oswanal Finacial Services.
Nice Article
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