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Trade truce

Amala Balakrishner
Amala Balakrishner12/27/2019 07:00 AM GMT+08  • 9 min read
Trade truce
As the US and China conclude their ‘phase one’ discussions, is the end to the trade war really in sight?
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As the US and China conclude their ‘phase one’ discussions, is the end to the trade war really in sight?

SINGAPORE (Dec 27) : After almost two years of trade war and several hiccups in arriving at a truce, US Trade Representative Robert Lighthizer says ‘phase one’ of negotiations between the US and China is “totally done”. In a late night briefing on Dec 13, China’s vice-commerce minister, Wang Shouwen, confirmed that the US had agreed to cancel some of its existing tariffs on Chinese goods.

Under the deal, announced on Dec 13, the US will reduce some tariffs on Chinese goods, in exchange for a US$200 billion ($271 billion) increase in Chinese imports of US agricultural, manufactured and energy products over the next two years.

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