China says US has 'severely violated' tariffs truce
Summary
China claims that the United States has broken their recent trade agreement by not following through on agreed terms. The disagreement follows a recent deal where both countries had reduced tariffs on each other's goods.Key Facts
- China accuses the US of breaking their trade agreement from a Geneva meeting by undermining the deal.
- The US and China had previously agreed to lower tariffs, with the US decreasing tariffs on Chinese goods from 145% to 30%.
- China reduced its tariffs on US goods from 125% to 10%.
- China objects to US actions such as stopping sales of computer chip design software to Chinese firms and canceling visas for Chinese students.
- US President Trump accused China of violating the agreement but did not give specific details.
- US Trade Representative stated China did not remove non-tariff barriers as promised.
- Talks between Xi Jinping and Trump may happen soon to resolve trade disagreements.
- The US recently announced increasing tariffs on steel and aluminum from 25% to 50%.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.