Gyeongju (South Korea)/New Delhi, Oct 31 (UNI) In an indication that the US-China Tariff war may soften, Beijing has agreed to purchase Soybeans, Sorghum and other Farm products from US, help US end the Fentanyl Crisis and begin the process of purchasing American Energy.
The agreements were arrived at during the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the 32nd APEC Economic Leaders’ Meeting here early today.
”We agreed on many things, with others, even of high importance, being very close to resolved. I was extremely honoured by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products,” Trump said on his ‘Truth Social’ platform.
Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., ”openly and freely”, he said, adding that China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country. They will help us end the Fentanyl Crisis.
Trump said China also agreed that they will begin the process of purchasing American Energy. In fact, a very largescale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska, Trump said adding that the agreements reached today will deliver Prosperity and Security to millions of Americans.
However, in his address earlier President Xi called for promoting a universally beneficial and inclusive economic globalization and proposed working together to safeguard the multilateral trading system.
”We must practice true multilateralism and enhance the authority and effectiveness of the multilateral trading system with the WTO at its core. We should update international economic and trade rules to reflect the changing times so as to better protect the legitimate rights and interests of developing countries,” President Xi said.
He also called for working together to build an open economic environment in the region, keep promoting trade and investment liberalization and facilitation, deepen fiscal and financial cooperation and steadily push for regional economic integration.
He stressed the need for working together to keep industrial and supply chains stable and smooth and asked the APEC members to join hands rather than part ways and strengthen links rather than sever them.
”We should vigorously expand our common interests and support the open development of supply chains. We should strive for concrete and tangible results in physical, institutional and people-to-people connectivity so as to further consolidate the foundations for open development in our region.”
He also called for working together to advance the digital and green transformation of trade and make digital technologies a strong catalyst for cross-border trade.
He said green barriers must be removed and cooperation strengthened in green industries, clean energy and green minerals.
Calling for promoting universally beneficial and inclusive development, he stressed the need for adhering to the people-centred development philosophy, focusing on imbalances in development and fostering an economic globalization that is more inclusive, sustainable, and beneficial to all peoples in the region.
President Xi said China is working with various parties to promote the high-quality development of the Belt and Road Initiative and will continue to strive for common development and shared prosperity with all nations.
