President Trump agreed to keep the 10 percent tariff on $ 200 billion worth of Chinese goods and not "raise it to 25 percent" by January 1, according to a statement of the White House . 19659003] In return, China said it was ready to buy a "very large" amount of land, energy and other goods from the United States to reduce trade imbalances.
With the agreement, another agreement is signed by the Trump government deadline to negotiate a deal with China within 90 days to address key US concerns such as forced technology transfer, intellectual property and cyber-theft.
"It was a shift," said Craig Allen. President of the US-China Business Council. "It's certainly not a solution to any problem, but it's better than the situation we've had before, now we'll wait and see."
Ian Shepherdson, chief economist at Pantheon Economics, had a similar assessment ̵
"The lesson from Saturday night is that both sides want to avoid disaster, but they do not hurt – to make substantial immediate concessions," Shepherdson wrote.
Rob McLean contributed to this report.