China-US trade agreement will ease tensions but doubts remain unchanged
Mumbai, Ta. January 16, 2020, Thursday
According to an agreement signed between China and the United States on Wednesday, China will increase its spending on American products against the withdrawal of some tariffs. With this agreement, the ongoing trade war between the two countries is about to be over.
The deal between the two countries failed to resolve the underlying economic issues. Such as the abolition of tariffs which has slowed the global economy. In addition, high buy targets also seem to be impractical, industry and analysts believe.
According to the agreement, China will have to buy $ 1 billion of US farm products over the next two years. There was a $ 2 billion baseline in purchases in the 5th. The refractory tariffs applied to US farm exports have not been withdrawn, which has forced farmers to rely on the purchase of Chinese goods. In addition, major structural changes were also not resolved, said one analyst.
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