The US and China made ‘substantial progress’ at trade talks, Chinese vice premier saysOctober 19, 2019
Chinese Vice Premier Liu He has said that he and the US will be working to address the core concerns causing the trade war as stopping this would be in the best interests of both nations.he said that a lot of progress has been made by both nations in different fields. A phased agreement should now be signed between the countries to establish mutual respect and equality.
A virtual conference may be held in Nanchang, the capital of the Jiangxi province.
China and the USA have reached a limited deal as of last week which may end the trade war causing ripples and tsunamis across global markets. A written agreement is in the works. China’s third-quarter growth slowed to 6%, the weakest it has been in the last 30 years. China will be setting up investing in core technologies to restructure growth soon while protecting commercial progress.
According to Liu, both China and the USA should and can meet one another halfway on the basis of equality and mutual respect. A good environment should be given to cohesively bather the goals of both nations and reaching them together.
The IMF has estimated that a tentative deal from the countries will reduce the harm of the tariffs as an immediate measure to salvage the last 15 months.
As of now the economy of the world may go down by 0.8% but after a deal, it will drop to 0.6%.