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U.S. And China Close To Reaching Long Awaited Trade Deal

China has also agreed to Trump's demand that Beijing lower the trade gap between the two nations.

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American flags are displayed together with Chinese flags on top of a trishaw in Beijing. Pixabay

The United States and China are close to reaching a trade deal that could see both sides ending the tit-for-tat war of tariffs that has been escalating since last year, the Wall Street Journal reported Sunday.
News of the deal buoyed markets in Asia early Monday as the Journal reported that U.S. President Donald Trump and Chinese President Xi Jinping could meet to sign a deal as early as the end of March, after Xi ends a tour of Europe.

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China has also agreed to Trump’s demand that Beijing lower the trade gap between the two nations. It has agreed to buy more American products, including a possible multibillion-dollar purchase of natural gas. VOA

The report said China has agreed to lower tariffs and ease restrictions on American goods, including farm, auto and chemical products. In return, the U.S. would lift the tariffs imposed on Chinese goods last year.

Also Read: U.S. President Donald Trump Claims, Saving “Hundreds of Millions of Dollars” By Cancelling Drills With South Korea

China has also agreed to Trump’s demand that Beijing lower the trade gap between the two nations. It has agreed to buy more American products, including a possible multibillion-dollar purchase of natural gas.

The report quoted people on both sides, who cautioned that not all hurdles have been crossed. (VOA)

Next Story

Juan Guaido Contacts US Military To Pressurize Venezuela’s President Nicolas Maduro To Step Down

The U.S. and some 50 other countries support Guaido, who declared himself interim president in January on the claim that Maduro's 2018 re-election was illegitimate.

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Venezuelan opposition leader Juan Guaido, whom many nations have recognized as the country's rightful interim ruler, leaves after a rally in support of the Venezuelan National Assembly and against the government of Venezuela's President Nicolas Maduro in Caracas, May 11, 2019. VOA

Venezuelan opposition leader Juan Guaido told his supporters Saturday at a rally in Caracas that he had instructed his ambassador to the U.S. to contact the U.S. military to pressure President Nicolas Maduro to step down from his post.

Guaido spoke to demonstrating crowds in the Alfredo Sadel Plaza in Las Mercedes, a commercial district in Caracas.

He spoke a day after a Venezuelan court ordered Edgar Zambrano, vice president of Guaido’s opposition-controlled National Assembly, to be held at a military facility. Zambrano,who was arrested earlier in the week, and nine other opposition leaders are under investigation in connection with a failed military insurrection.

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The Treasury Department said the vessels delivered oil to Cuba from late 2018 through March. Pixabay

U.S. Secretary of State Mike Pompeo has called for Zambrano’s immediate release, saying his arrest “is an attack on the independence of the nation’s democratically elected legislative branch.”

Shippers sanctioned

Meanwhile, the United States has placed sanctions on two shipping companies for transporting Venezuelan oil to Cuba.

The U.S. Treasury Department said Friday that it had targeted Marshall Islands-based Monsoon Navigation Corp. and Serenity Maritime Ltd., headquartered in Liberia.

The agency said the companies owned ships that were involved in oil transfers to Cuba, which the U.S. has accused of providing military support to Maduro.

The Treasury Department said the vessels delivered oil to Cuba from late 2018 through March.

Also Read: The HIV Spread in Pakistan: Government And UN Investigating Causes

The U.S. and some 50 other countries support Guaido, who declared himself interim president in January on the claim that Maduro’s 2018 re-election was illegitimate.

Maduro has called Guaido a puppet of the U.S. Maduro has held on to power with the support of Cuba, Russia and China. (VOA)