Media ININ Economy We Trust
Media In / Agencies 01-01-2019
The Chinese and US presidents exchanged letters pledging to strengthen cooperation despite a sharp trade dispute between China and the United States on the 40th anniversary of the establishment of diplomatic ties between the two countries, according to official Chinese media.
Tension between Beijing and Washington escalated in 2018 on the back of trade disputes, but US President Donald Trump froze new customs duties and announced Saturday “great progress” following a call to his counterpart Xi Jinping.
In the exchange of letters Tuesday, Chinese President Hu Jintao stressed the importance of working with the United States “to advance Sino-US relations and enhance coordination, cooperation and stability,” according to the official Xinhua news agency.
Trump praised the last four decades of China-US diplomacy and welcomed his “strong friendship” with the Chinese president, Xinhua said.
Washington and China exchanged customs duties on goods worth more than $ 300 billion last year, triggering a trade dispute that began to affect profits and led to a fall in capital markets.
Trump launched the trade war following complaints about China’s “unfair” practice, which were also expressed by the EU, Japan and others.
But since the two presidents agreed to a truce on the sidelines of the G20 summit in Buenos Aires, small signs of progress have emerged, amid the absence of new threats from Trump.
