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China welcomes preliminary deal in trade war it blames on US

Posted On: Dec 14, 2019   |   Posted By: Boston Herald

BEIJING - China expressed cautious optimism Saturday about a first-step trade agreement that dials down a trade war it blames the U.S. for starting.
Chinese experts and news media joined government officials in saying the deal would reduce uncertainty for companies, at least in the short term. They remained cautious, saying both sides will have to show a willingness to compromise to resolve the more fundamental differences between them.
“It at least stabilizes the situation and lays a foundation for the next round of trade talks or canceling additional tariffs in the future,” said Tu Xinquan, a professor at the University of International Business and Economics in Beijing. “I cannot predict what achievement can be made during the future talks.”
The two countries announced a “Phase 1″ agreement Friday under which the U.S. will reduce tariffs and China will buy more U.S. farm products. Chinese officials said the nine-chapter text, which includes intellectual property, technology transfer, financial services...

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