USA and China refrain from punitive tariffs
The first round of the trade dispute goes to China. Chinese President Xi Jingpin settled the trade dispute with the US without making actual concessions. During the talks the Chinese cleverly used the situation that the Americans were not united. The negotiating group of US President Donald Trump presented themselves not as a team with an united view in Beijing, but as a collection of different interests. As a result, US Treasury Mnunchin said Washington is renouncing the threat of punitive tariffs on Chinese products of up to $ 150 billion. China’s Vice-Premier Liu He says their counter-increase in tariffs will be ended.
Both sides held talks for two days and now want to negotiate an agreement. The goal is to get China to import more goods from the US. US President Trump had described it as unfair that the US imports significantly more goods from China than they sell there.