LJUBLJANA: China and the United States' 'phase one' trade agreement is good news for all and will 'provide stability in global trade', the Chinese government's top diplomat Wang Yi said during a visit to Slovenia on Saturday (Dec 14).
Chinese Foreign Minister Wang Yi believes the new US-China trade agreement will help to shore up confidence in the world economy. - ANN
Earlier this week, Washington and Beijing agreed on the terms of a"phase one" trade deal that reduces some US tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and other goods. A fresh wave of US tariffs on Chinese imports was due to take effect on Sunday. However, this has been cancelled for now.
US negotiators are reportedly offering to significantly reduce existing tariffs on about $360bil worth of Chinese imports.
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