News reports state Chinese and American trade negotiators are beginning to outline in writing the terms of a deal to address all issues on both sides in a bit to end the ongoing trade war. The markets rallied on the news.
Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources familiar with the progress of the talks, reported CNBC.
The Trump administration levied tariffs on Chinese imports to force Beijing to stop stealing from the United States in a variety of ways. Of course with any deal, the devil is in the verification details. Globalist interests in Congress and the business community have teamed up in an effort to stop Trump’s ‘America First’ policies.
“It can be said that we are now in the sprint phase, and both negotiating teams are working towards the goal of reaching an agreement within the deadline, but some problems are still quite complicated to resolve,” said one Chinese official familiar with the situation, added CNBC.
Bloomberg is reporting that China has agreed to buy another $30 billion of American agricultural goods per year.