China and USA agreed to put trade war ‘on-hold'

Chinese and the USA officials on 20 May 2018 announced that the two countries are putting the trade war ‘on-hold’ after achieved positive progress in a discussion that aimed to narrow down the USA’s trade deficit with China.

In doing so, the USA has agreed to put on hold the proposed tariff of $150 billion on import Chinese products while China promised to substantially increase the imports of USA’s farm and energy products. 

Quoted USA Treasury Secretary on media, who expected ‘35-45 percent increased in US farm sales to China this year and doubling sales of US energy products to the Chinese market, increasing energy exports by $50-60 billion in the next three to five years’

The announcement casts positive effect on the global market.