China expresses its confidence in reaching a trade agreement with the United States.

China today expressed confidence in reaching a trade agreement with the United States. and stressed that the meeting held last weekend by Chinese President Xi Jinping and his US counterpart, Donald Trump, was "very successful".

"We trust in the fulfillment of the consensus (those reached during the meeting)," the Chinese Ministry of Commerce said today in a brief statement posted on its website.

According to the portfolio, the economic and commercial teams of both parties will work "actively" during the next 90 days following the calendar and roadmap established after the meeting of the two presidents.

"China will begin to implement specific aspects on which there is consensus as soon as possible," the Chinese ministry adds.

Xi and Trump held last weekend in Buenos Aires, in the framework of the summit of the G-20, a work dinner in which they agreed to a truce in the trade war that the two major world economies maintain.

After that meeting, both powers agreed to expand consultations "in the next 90 days", a period in which the US He agreed to leave China's tariffs on Chinese products worth $ 200 billion as of January 1, 2019, and not to raise them by 25%, as planned.

China, for its part, pledged to increase purchases of US agricultural products and designate fentanyl as a "controlled substance" and impose harsh penalties on those who trade with that substance, something demanded by Washington in order to appease the epidemic of addiction to opiates in the United States.

The announcement caused financial markets to open on Monday with strong rises, after weeks of concern about the outcome of the meeting between Trump and Xi and the possible negative effects on the global economy.

However, with the passing of the hours, the comments of the US officials showed that the agreement had been more a declaration of intentions than a firm pact.

On Monday, it was learned that Trump had appointed as the chief negotiator with China the representative of Foreign Trade of the United States, Robert Lighthizer, known for his frontal criticism of Beijing's trade policies.

In total, USA It has imposed tariffs on Chinese products worth 250 billion dollars since July, and Beijing has applied reciprocal measures to more than 60,000 million dollars in US imports, almost half of the 130,000 million that it bought in 2017.


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