Sources: US sets 2025 target for China to fulfill trade pledges – Bloomberg
|While the US-China trade talks are crossing the wires across the globe, Bloomberg reported a story based on its sources that say China can have time till 2025 to fulfill trade commitments.
The report says that the trade deal that the U.S. and China are crafting would give Beijing until 2025 to meet commitments on commodity purchases and allow American companies to wholly own enterprises in the Asian nation, according to three people familiar with the talks.
Under the proposed agreement, China would commit by 2025 to buy more U.S. commodities, including soybeans and energy products, and allow 100 percent foreign ownership for U.S. companies operating in China as a binding pledge that can trigger retaliation from the U.S. if left unfulfilled, the report further clarified quoting anonymous sources.
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