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Trump announces that a trade agreement with China was signed

Trump said Thursday that the United States signed a trade-related agreement with China on Wednesday.

Trump announces that was signed a commercial agreement with China
Time to Read 2 Min

President Donald Trump announced Thursday that the United States signed a trade agreement with China on Wednesday, but did not specify what he meant.

Trump made the comments during a White House event to promote the spending bill he is seeking to get through Congress before the July 4 holiday and said he plans to seal another trade deal with India soon.

"We signed (the agreement) with China yesterday. We just signed it," he said at a White House event held to promote his fiscal and budget proposal, which is currently being processed in the Senate.

The Republican leader did not offer new details about the pact. In mid-June, however, after a two-day conversation between representatives of both countries in London, Trump indicated that the agreement includes a 55% US tariff on Chinese products and a 10% tariff on US goods from Beijing.

No information about the signing of the agreement announced by Trump had been leaked as of Wednesday, nor was the press called regarding it.

“We have another one coming up, maybe with India, a very big one,” Trump added, again without giving details.

The ones with China and the United Kingdom are the only two pacts that have already been sealed.

The White House insisted on Thursday that it does not consider the July 9 deadline initially set by the president to negotiate new trade agreements with his partners and thus avoid the application of his so-called “reciprocal tariffs” to be “critical.”

Since returning to power in January, Trump has promoted global tariffs that he later partially paused to give time for the rest of the countries to negotiate new trade pacts with Washington.

This Thursday he warned that not all pending agreements will be closed: "We are not going to make deals with everyone. We will send them a letter with a thank you and a "pay 25, 35, 45%," he said.

Trump said the highlight of his tariff policy was getting companies to relocate or build their factories in the country to avoid paying taxes.

“Perhaps more important than the billions of dollars in tariffs is the fact that we have hundreds of plants under construction across the United States that would never have been here,” he added.

This news has been tken from authentic news syndicates and agencies and only the wordings has been changed keeping the menaing intact. We have not done personal research yet and do not guarantee the complete genuinity and request you to verify from other sources too.

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