What will be the impact of the China-US trade agreement on the abrasive and abrasive related industries?

What will be the impact of the China-US trade agreement on the abrasive and abrasive related industries?
2020-01-17 09: 03: 28 | Source China Superhard Materials Network

Abstract On January 15, 2020, Eastern Time, China and the United States signed the Economic and Trade Agreement between the Government of the People's Republic of China and the Government of the United States of America (hereinafter referred to as the "Agreement") in Washington, USA. According to the "Agreement", the United States will increase exports of machine tools, artificial corundum, oxidation ...
On January 15, 2020, Eastern Time, China and the United States signed the Economic and Trade Agreement between the Government of the People's Republic of China and the Government of the United States of America (hereinafter referred to as the "Agreement") in Washington, USA. According to the "Agreement", the United States will increase exports of machine tools, artificial corundum, alumina and other related products to China.

 The text of the Agreement includes nine chapters: preamble, intellectual property, technology transfer, food and agricultural products, financial services, exchange rates and transparency, expanded trade, bilateral assessments and dispute settlement, and final clauses. At the same time, the two sides reached an agreement that the United States will fulfill its relevant commitments to phase out tariff increases on Chinese products in stages and realize the transition from increasing to decreasing tariffs.

According to the Agreement, from January 1, 2020 to December 31, 2021, within two years, China should ensure that it will expand the purchase and import of manufactured goods, agricultural products, energy products and services from the United States above the base in 2017. At $ 200 billion, manufactured goods will increase by $ 77.7 billion in two years. Among them, the abrasive and abrasive related industries will be affected, and the increase in US exports to China will change the existing pattern of the domestic abrasive and abrasive industry to a certain extent, promote the transformation and upgrading of related industries, innovate and improve products, reduce costs, and increase domestic 2. The development of the international market has gone up and down, and fundamentally improved product competitiveness. At the same time, we must speed up the process of import substitution of high-end products in related domestic industries. In the short term, a sharp increase in imports from the United States may curb imports of some commodities in some regions, but in general, the easing of Sino-US trade frictions will reduce external uncertainties, which is conducive to the healthy development of industry companies and global trade. And economy.

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