‘Phase One’ Agreement between the US and China
The United States and China announced a “Phase One” agreement under which the US will reduce some tariffs in exchange for increased Chinese purchases of American farm and energy goods.
“Phase One” Agreement
- Tariffs: As part of the deal, the US will halve its 15 per cent tariff on about $120 billion in Chinese goods. It will also suspend indefinitely planned duties that were set to take effect. China, on the other hand, didn’t agree to specific tariff reductions in the deal. Instead, the nation’s obligation is to make the purchases and to have an exclusion process for its tariffs.
- Purchases: ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 India Joins US-Led Minerals Security Finance Network
- 2 Pacific Islands Forum Meeting Highlights Growing Influence
- 3 Turkey Seeks Membership in BRICS
- 4 China's Commitment to Africa at FOCAC 2024
- 5 India Seeks Renegotiation of Indus Waters Treaty
- 6 India and Brunei Elevate Ties to “Enhanced Partnership”
- 7 India-UAE Nuclear Cooperation Agreement
- 8 Indian PM’s US Visit Solidifies India's Global Role
- 9 UN Approves Draft of Global Cybercrime Treaty
- 10 UN Launches Multidimensional Vulnerability Index
- 1 India-Japan 2+2 Foreign and Defence Ministerial Meeting
- 2 West Africa Renames CFA Franc
- 3 Russia Launches Gas Pipeline to China
- 4 Bougainville Votes to Become World’s Newest Country
- 5 UK Defies Deadline to Return Chagos Island
- 6 China, South Korea, Japan Meet Over Trade, Regional Disputes
- 7 First Global Refugee Forum
