President Donald Trump said Monday that his administration reached an agreement with China to temporarily lower tariffs while the two sides negotiate a final agreement, which the president says will open the Chinese market for U.S. firms, APA reports citing the Fox Business.
"The biggest thing that we're discussing is the opening up China, and they've agreed to do that, but it's going to take a while to paper it, you know, that's not the easiest thing to paper," Trump said, noting that it will take time to finalize a formal version of the agreement.
"I think it would be fantastic for our businesses if we could go in and compete and compete with China," Trump said. "It would be a lot of jobs for China, it would be I think at a time when they can frankly use the jobs, and that's what we're talking about."
He went on to explain that his administration's push for more market access in China for U.S. businesses is a means of resetting the balance of trade between the two countries, including through the removal of non-tariff barriers to trade.
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