There is a long way to go

Highly expected China-U.S. heads of state meeting took place in Busan, South Korea on Thursday (October 30). According to the content released by both sides after the meeting, the United States agreed to reduce and suspend additional tariffs imposed on China. China suspended the implementation of rare earth export controls and will purchase U.S. soybeans.

The Economist, a British magazine, reported last week that China is winning this trade war. But we rarely regard that the tariff war has a winner. In such dilemmas, our company remains optimistic. Amid tariff pressures, the value of Chinese goods flowing into the United States reached 1.55 trillion yuan in the first half of the year, which indicates that the United States has strong purchasing power. In the foreseeable future, the aggressive trade policies of both sides will ease, leading to the formation of a mutually beneficial and win-win trade partnership.