The United States and China called a truce in their trade war on Saturday after President Trump agreed to hold off on new tariffs and President Xi Jinping pledged to increase Chinese purchases of American products. The two also set the stage for more negotiations to resolve differences over trade; which includes WV hardwood exports to China.
According to USA Today, the truce may ease skittish investors and lawmakers this week, but some experts question its potency. This deal involves the U.S. holding off for 90 days on a round of steep tariffs that had been set for January. In exchange, China will purchase “a not yet agreed upon, but very substantial” amount of U.S. products to “reduce the trade imbalance” that has vexed Trump for decades.
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