Foreign Trade

China Moves to Address U.S. Economic Concerns

from The Wall Street Journal,

Beijing agrees to reduce auto tariffs and buy more American products, but key differences remain.

Beijing sought to ease tensions with Washington as its top trade negotiator told U.S. officials that China was planning to reduce auto tariffs 9to 15% down from 40% at present) and boost purchases of soybeans and other crops, according to people in both capitals briefed on the discussions. The two sides held a teleconference involving Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the first session since the two sides had reached a 90-day trade truce on Dec. 1 in Buenos Aires. But it is unclear if the early pledges will suffice to pave the way for a full trade deal by the March 1 deadline.

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