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Industry Reacts Favorably to U.S.-China Trade War Truce

U.S. President Donald Trump and China President Xi Jinping had a successful meeting at the G20 Summit in Argentina on Saturday. Trump agreed to hold off for the time being on any new tariffs, while his Chinese counterpart pledged to purchase more American goods.
A statement from the White House reads: “President Trump has agreed that on Jan. 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time. China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial and other product from the United States to reduce the trade imbalance between the two countries. China has agreed to start purchasing agricultural product from [American] farmers immediately.”
The footwear industry applauded the temporary trade war ceasefire.
“The footwear industry welcomes the news that the U.S. will not pursue any new tariffs on Chinese goods while the two countries seek a negotiated outcome to this protracted trade war,” said Matt Priest, president and CEO of the Footwear Distributors & Retailers of America. “Our companies know far too well the negative impact import duties have on American consumers and are grateful that

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Via:: https://footwearnews.com/2018/business/news/trump-china-call-trade-war-truce-fdra-1202713072/