The US and China have joined hands with an agreement to ease trade relations.
US President Donald Trump has declared that the agreement would be “transformative” for the betterment of the US economy.
The agreement has been made to ease the trade war that has affected the global economy.
Chinese officials say that this agreement will help develop good relations between the US and China.
Chinese officials name the agreement a “win-win”.
China promises to increase US imports by $200bn more than 2017 levels. China has also promised to boost the property rules of the countries.
The US has promised to split a few of mew tariffs that are imposed on Chinese products.
Many of the border taxes would still in practice and it will require further talks regarding the matter.
The present of China Center at the US Chamber of Commerce said, “There’s a lot of work to do ahead,”
“Bottom line is, they should enjoy today but not wait too long to get back to the table for phase two.”
Trump said at the signing ceremony that the contract will strengthen the relationship between the two countries.
He said, “Together we are righting the wrongs of the past and delivering a future of economic justice and security,”
“Far beyond even this deal, it’s going to lead to even stronger world peace,”