Donald Trump Confirmed a "substantial" Trade Agreement With China

The president of the United States, Donald Trump, paused in his commercial confrontation with China and announced Friday a partial trade agreement between Washington and Beijing.

"We reached a very substantial phase one agreement," said the president, following the meeting with Liu He, the Chinese chief negotiator. As part of the pact, the Republican suspended his plan to raise tariffs on Chinese imports from 25 to 30% worth $ 250 billion.

The Chinese representative highlighted the "good communication" between the two countries and said there was "substantial progress in many fields." "We are happy," said Liu He, who confirmed that the talks continue to define the fine print.

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For his part, the secretary of the Treasury of the United States, Steven Mnuchin, confirmed that there will be no increase that started on Tuesday. It is speculated that the formalization of the pact would take place during the summit of the Asia-Pacific Economic Cooperation Forum held in November, in Chile.

History of a commercial battle

The trade crisis between the two countries deepened this year, despite the parenthesis that occurred during the G20 summit in Buenos Aires. There the two giants had found meeting points in their battle, which later intensified.

The maximum peak of the confrontation occurred when China, in early August, depreciated its currency, the yuan. The news impacted on emerging countries and also affected Argentina.

Trump shows the principle of agreement signed with China. (Photo: EFE / EPA / MICHAEL REYNOLDS)

Over the weeks, Trump accused Xi Jinping of manipulating the value of his currency to harm the United States. "It's called currency manipulation," the tycoon shot, at that time, from his Twitter account. "It is a great transgression that will greatly weaken China over time," he added true to his verbiage style.

After that episode, China began to have serious internal problems from the marches in Hong Kong that bracketed the battle with the United States. For his part, Trump also had complications inside: the Democratic opposition initiated an impeachment process accusing him of "treason to national security."

In that context, both administrations resumed the dialogue that this afternoon ended in a partial agreement that can be delineated in the coming days.

News in development that is being updated.

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