The U.S. and China may have turned down the heat on their trade war on Friday, but pressing pause on more tariffs is just the first step in ending a protracted dispute between the world’s two largest economies
Friday, but pressing pause on more tariffs is just the first step in ending a protracted dispute between the world’s two largest economies.
“I think what China’s expectation is, is you have future phases and future reductions,” said Lighthizer. Lighthizer said the “goal” is for China to reach $50 billion worth of total purchases next year as well as in 2021. Chinese officials made clear, however, that any purchases will be based on market demand and in line with China’s commitments at the World Trade Organization.
Beijing has also agreed to address a number of longstanding non-tariff trade barriers to U.S. agricultural exports, Lighthizer said. A second U.S. official said the numbers would remain classified because of their potential to move markets and reveal of business proprietary information.
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