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Temporary Truce of 90 Days for the Sino-US Trade War
After several months' trial of the Tariff Rules, US President have to weaken his position and try to negotiate with China.
The announcement on Wednesday followed a period of relative quiet from Beijing after Chinese President Xi Jinping and his US counterpart, Donald Trump, reached a temporary truce in the trade war between the world's two largest economies over the weekend.
The two leaders, who met on the sidelines of a Group of 20 summit in Argentina, also decided to hold off on new tariffs and give negotiators three months to strike an agreement. Also China Government want to carry out effective measurements to stop this "Two-side Bleeding"war.
In a brief statement, China's commerce ministry described the two sides' discussions as "successful", adding it was "confident" of their agreement's implementation. This shows neither of the two parties can not benifit from it but hurt each other's economy if this trade war goes on. Since China has become very important Growth Engine on the Global economy, this trade war will inevitably hurt the global growth, too.
"The economics and trade teams of both sides will actively push forward negotiations within 90 days in accordance with a clear timetable and road map," it said, in the first public acknowledgement by the Chinese government of the 90-day timeline.
"China will start with the implementation of the specific matters in which consensus has been reached, the sooner the better," it added, without providing more details.
We are hoping both the two sides can reach an agreement in the 90 days and the economy will start to be as healthy and steady as before. After experiencing the Stock Market Falling Apart, Financial Banks and Entities suffering great loss because of the trade war, we are longing to see the agreement ASAP.