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China and the United States went on to make mutual concessions

China and the United States agreed to expand trade in beef and ready-to-eat chicken and discussed the question of work in China of American financial companies. Corresponding agreements reached in the framework of the plan to equalize the trade balance between the two biggest economies in the world.

15.May.17 10:52 AM
By Christina Orlina


China and the United States went on to make mutual concessions
Deputy Finance Minister of China Zhu Guangyao said: “The parties came to an agreement on the basis of the 100-day action plan in the field of economic cooperation. Soon we will discuss the extension of the plan up to one year to strengthen cooperation aimed at promoting economic exchange between China and the United States.”

The trade negotiations began last April. China will permit imports of beef from the United States not later than July 16. By that time, force resolution will enter about the access to the US market to Chinese cooked poultry. 

The ban on the export of U.S. beef had worked in China since 2003 because of fears related to the spread of mad cow disease. Today, the U.S. exported 14% of beef produced in the country.

The US President Donald Trump called “the real news” that Washington and Beijing have reached agreement on imports of U.S. beef in China.

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