China and us trade news

Here are some recent news updates on China-US trade:

Latest Developments:

Phase One Trade Deal: On January 15, 2020, the United States and China signed a Phase One trade deal, which aimed to reduce tensions and increase trade between the two countries. The deal included commitments from China to increase purchases of US goods and services, and from the US to reduce tariffs on certain Chinese products.
Tariffs: The US and China have imposed tariffs on each other's goods, with the US imposing tariffs on over $360 billion worth of Chinese goods and China imposing tariffs on over $110 billion worth of US goods.
Intellectual Property: The US has accused China of stealing intellectual property and forcing US companies to transfer technology to Chinese partners. China has denied these allegations.
Market Access: The US has been pushing for greater market access for US companies in China, particularly in the financial and technology sectors.
Currency Manipulation: The US has accused China of manipulating its currency, the yuan, to gain an unfair trade advantage. China has denied these allegations.

Recent News:

US-China Trade Talks: In May 2020, the US and China held trade talks in Washington, DC, but no agreement was reached. The talks focused on issues such as intellectual property, market access, and currency manipulation.
China's Economic Slowdown: China's economy has been slowing down due to the COVID-19 pandemic, which has impacted global trade and investment.
US-China Trade War Impact: The trade war has had significant impacts on both the US and Chinese economies, including increased costs for consumers, reduced investment, and job losses.
China's Response to US Sanctions: China has responded to US sanctions by imposing its own sanctions on US companies and individuals, including the CEO of the US tech company, Qualcomm.
US-China Trade Deal Extension: In August 2020, the US and China agreed to extend the Phase One trade deal for an additional 60 days, amid concerns over China's compliance with the agreement.

Key Quotes:

US President Donald Trump: "We're doing very well with China. We're making great progress."
Chinese President Xi Jinping: "China is willing to work with the US to promote mutually beneficial cooperation and manage differences."
US Trade Representative Robert Lighthizer: "The Phase One deal is a significant achievement, but we still have a long way to go to address the structural issues in the US-China trade relationship."
Chinese Foreign Ministry Spokesperson Geng Shuang: "China is committed to implementing the Phase One deal and promoting cooperation with the US."

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