Home / Knowledge / News / Textiles / China, US put trade war on hold
China, US put trade war on hold
21
May '18
Courtesy: The White House
Courtesy: The White House
Following weeks of uncertainty over imposition and counter-imposition of tariffs on imports by China and the US, the two countries have decided not to go ahead with implementation of the new tariffs. Instead, they have agreed to take effective measures to substantially reduce the US trade deficit in goods with China, and support growth and employment in US.

“To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services,” a joint statement issued by the US and China regarding trade consultations said.

The constructive consultations regarding trade were held in Washington, D.C. at the direction of US President Donald Trump and his Chinese counterpart Xi Jinping. The delegations also discussed expanding trade in manufactured goods and services. “There was consensus on the need to create favourable conditions to increase trade in these areas.”

Both sides agreed to encourage two-way investment and to strive to create a fair, level playing field for competition. They will also continue to engage at high levels on these issues and to seek to resolve their economic and trade concerns in a proactive manner.

A team from the US will visit China to workout further details for meaningful increases in US exports. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search