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G20 Summit-Decided To Stop Raising Tariffs And Other Trade Restrictions
Dec 03, 2018

Since early this year,exporting business especially hardware exporting is obviously impacted by the raised tax rate between China and USA.Our CNC machining parts and sheet metal parts prices had to increased due to the tax policy.

While fortunately the G20 Summit brings us the good news that US and China have come to the agreement to stop raising tariffs and other trade restrictions.

This will bring the Spring to exporting business.

On the evening of December 1, local time in Buenos Aires, President Xi Jinping and US President Trump met in Buenos Aires, Argentina. After the meeting, the relevant person in charge of the Chinese economic and trade team told reporters that the two heads of state discussed the Sino-US economic and trade issues and reached a consensus.

The two heads of state positively evaluated the positive and effective consultations recently conducted by the economic and trade teams of the two sides. The two sides believe that a healthy and stable Sino-US economic and trade relationship is in the common interest of the two countries and the world.

The two sides decided to stop the trade restrictions such as upgrading tariffs, including not raising the existing tariff rate for each other, and not introducing new tariff-adding measures for other commodities.

The two sides agreed to immediately address each other's concerns in a spirit of mutual respect, equality and mutual benefit. In accordance with the requirements of the 19th National Congress of the Communist Party of China, China will further take measures to deepen reform and expand opening up. In the process, some economic and trade issues that the US is concerned about will be resolved. At the same time, the US will also actively resolve the economic and trade issues of concern to China.

The two heads of state instructed the economic and trade teams of the two sides to intensify consultations and reach an agreement to cancel the tariffs imposed this year and push bilateral economic and trade relations back to normal track as soon as possible to achieve a win-win situation.

With this agreement,we will be under less pressure on pricing.

ZONE KX insist on providing the best quality and service on metal components manufacturing all over the world.

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