The US-China trade war, which lasted more than 600 days, has finally come to an end. The US and China officially signed the first-phase trade agreement on the 15th. China promised to import a large number of American goods (including agricultural products and energy) and the next two years. Services, with a scale of up to 200 billion U.S. dollars (about NT $ 6 trillion), and strengthened supervision of intellectual property rights, technology transfer, financial services and exchange rates. As for the United States, which still maintains a 25% tariff on 250 billion U.S. dollars of goods, Trump also confessed that after the second phase of the high-level agreement, the additional tariffs will be cancelled.
The US and China have finally reached the first phase of the trade agreement. US President Trump and Chinese Vice Premier Liu He completed the signing of the affiliation at the White House on the 15th. According to the contents of the negotiations, the 7 major projects of the preliminary agreement will include agriculture, financial services, exchange rates, and intellectual property , Technology transfer, expanding trade and dispute settlement.
China promises to buy nearly US $ 32 billion (about NT $ 956 billion) of agricultural products, US $ 78 billion (about NT $ 2.33 trillion) of manufacturing products (including aircraft, machinery and steel, etc.) from the United States within two years, and US $ 52 billion (Approximately NT $ 1.55 trillion) of energy products and services of US $ 38 billion (approximately NT $ 1.33 trillion). In terms of intellectual property rights, China also promised to strengthen legislation to protect patents, trademarks and copyrights.
In terms of tariffs, the United States agreed to rectify 7.25 percent of US $ 1200 worth of Chinese goods from its original 15% within 30 days, but continued to impose a 25% tariff on US $ 250 billion; China also maintained tariffs on US $ 110 billion of US goods . At the same time, Trump said before signing the agreement that if the United States and China complete the signing of the second phase of the agreement in the future, they will promise to cancel all tariffs.
