SINO-US economic and trade enters "truce period"

On the evening of December 1, local time, there was good news at the G20 summit held in Buenos Aires, Argentina: after two and a half hours of meeting, the heads of state of China and the United States have reached basic consensus on china-us economic and trade issues, and the two sides have decided to stop raising tariffs and other trade restrictions.

The suspension of new tariffs by China and the United States will have a profound impact on both domestic and global markets. According to brokerage China, the two presidents identified three key points:

The list of us $120 billion will maintain a 10% tax increase, which will not be increased to 25% on January 1 next year.

2. The premise is that in the next 90 days of negotiations, China and the United States will reach agreement on forced technology transfer, non-tariff barriers, cyber intrusion, services, agriculture and other structural reforms.

China will increase imports of agricultural, energy and industrial products from the United States and improve the bilateral trade deficit.

The biggest achievement of the talks, apart from the economic and trade consensus, was to temporarily halt, more importantly, the dangerous slide by the us and China into a new cold war this year.

As a result, global stock markets rallied