Trump Says China Already Started To Implement Reached Trade Agreements

MOSCOW (UrduPoint News / Sputnik - 14th October, 2019) US President Donald Trump said that China had already started to implement the trade agreements, reached between Washington and Beijing, by purchasing US agricultural products.

On Friday, Trump said that Beijing and Washington had agreed on the first phase of the trade deal, having reached consensus on Currency exchange, technology transfer, intellectual property, financial services and purchase of up to $50 billion worth of US agricultural goods by China.

"My deal with China is that they will IMMEDIATELY start buying very large quantities of our Agricultural Product, not wait until the deal is signed over the next 3 or 4 weeks. THEY HAVE ALREADY STARTED!" Trump wrote on his Twitter page on late Sunday, pointing out that Beijing began to purchase products of US farmers and ranchers.

The US president also praised the relations between the United States and China, and vowed to finalize the first phase of the trade deal soon.

"I agreed not to increase Tariffs from 25% to 30% on October 15th. They will remain at 25%. The relationship with China is very good. We will finish out the large Phase One part of the deal, then head directly into Phase Two. The Phase One Deal can be finalized & signed soon!" Trump added.

The trade row between the world's two largest economies erupted in June 2018 when the United States imposed the first round of tariffs on Chinese exports, prompting Beijing to respond in kind. Since then, the two countries have exchanged in a full-blown trade war but have also started negotiations to resolve their trade-related differences.