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China, US agree not to impose more tariffs

Xinhua/ | Updated: 2018-12-02 04:55
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Chinese President Xi Jinping shakes hands with his US counterpart Donald Trump in Buenos Aires, Argentina, on Dec 1, 2018. [Photo by Li Xueren/Xinhua]

The two sides decided to avoid escalation of trade restrictive measures, without further raising existing tariffs imposed on each other and slapping new additional tariffs on other products.

The two sides agreed to take immediate efforts to address issues of mutual concern based on mutual respect, equality and mutual benefit.

As required by the 19th National Congress of the Communist Party of China, Beijing is committed to deepening reform and furthering opening-up. In the process, some economic and trade issues that are of Washington's concern will be solved. Meanwhile, the US side will actively address China's concerns on economic and trade issues.

Xi and Trump have instructed the economic and trade teams of both sides to intensify consultation to reach an agreement, so as to lift the additional tariffs imposed this year and bring the bilateral economic and trade relations back to a normal track as soon as possible with a win-win outcome.

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