China on Wednesday, said now time has come to push forward the trade negotiation and make deal with the United States in next 90 days, and also vowed to implement “immediate” changes to the agreements signed between both the countries.
The commerce ministry of China assure the agreement signed between Chinese President Xi Jinping and US President Donald Trump at G20 summit had been “successful” and thus China was “confident” about the new implementation on their agreements.
In a statement, ministry said, “The economics and trade teams of both sides will actively push forward negotiations within 90 days in accordance with a clear timetable and roadmap.”
Without disclosing further details about the agreement signed, ministry said, “China will start with the implementation of the specific matters in which consensus has been reached, the sooner the better.”
On the sidelines of G20 summit meeting, Jinping and Trump has agreed to ceasefire trade war between the countries with reducing new tariffs with providing a timeline of 90-day to reach an agreement.
No official details were disclosed except what ministry statement has stated, was the first public announcement from the Chinese government about 90-day extension.
One of the agreements signed were of China to remove auto tariff. According to agreement, China agreed to buy a “very substantial” amount of agricultural products, industrial, energy and some others too from the US in order to reduce the trade gap in-between countries, and also China agree to purchase farm products “immediately” from US, the White House said.
They agreed to enhance “structural changes” over technology transfer, cyber intrusions and crime, agriculture, service and intellectual property protection, the White House said.
Trump, however, also threatened to impose tariff on China, if failed to reach an agreement with the given deadline.