China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.
China will boost purchases of US goods and services by $200 billion over two years in exchange for the rolling back of some tariffs under an initial trade deal.
China has suspended additional tariffs on some US goods that were meant to be implemented on December 15, the State Council’s customs tariff commission said on Sunday.
Chinese diplomats have been instructed to promote Beijing’s view more aggressively as the country grapples with the trade war with the United States, anti-government protests in Hong Kong and other crises that could dent its image.
United States national security adviser Robert O’Brien said on Saturday that an initial trade agreement with China is still possible by the end of the year, but warned Washington would not turn a blind eye to what happens in Hong Kong.