Chinese Commerce Ministry Has Dealt Proactively With Trade Tensions in 2019
The ministry also confirmed that close communication between the two nations remains ongoing as they get closer to signing the phase one
According to the Commerce Ministry, China has proactively dealt with increased trade tensions with the US as a result of the trade war in 2019. According to an official statement, the Chinese Commerce Ministry has “resolutely safeguarded the interests of the country and the people”.
The ministry also confirmed that close communication between the two nations remains ongoing as they get closer to signing the phase one trade agreement. As part of the partial trade deal, China is expected to increase imports of US farm goods in exchange for the US suspending some tariffs and reducing some more on Chinese imports.
Markets have been trading optimistic this holiday season ever since both world leaders announced the decision to finalize and sign this trade deal. The announcement came just in time before the US was set to hike tariffs on $156 billion worth of Chinese imports.
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