It is fantastic news for the Hungarian economy that Donald Trump and Chinese President Xi Jinping successfully reached an agreement on certain trade issues at their meeting on October 29, Péter Szijjártó, Minister of Foreign Affairs and Trade, wrote on Facebook on Thursday.
The minister reported in his post that it is in Hungary’s interest for the global economy to operate on the basis of rules, common sense, and mutual respect, as our country would clearly suffer from a global economic system divided into blocs.
The United States and China are our country’s two most important investment and trade partners outside the European Union, thus if these two countries agree on economic and trade cooperation, that is good news for us,”
he emphasized.
“Investments from these two countries and trade with them are an important resource for the development of the Hungarian economy,” he added.
Fact
At the meeting taking place in South Korea, President Donald Trump and Chinese President Xi Jinping agreed that the U.S. will cut tariffs on Chinese imports, citing new understandings on fentanyl enforcement, farm trade, and a pause on rare-earth export limits. The two leaders also reached an understanding on the purchases of U.S. soybeans and other farm goods. Apart from that the U.S. President also addressed the question of chip technology.
After the meeting President Trump wrote: “I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products (…),”
“Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely. Very significantly, 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. China also agreed that they will begin the process of purchasing American Energy,” he noted.
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Via MTI, foxnews.com; Featured image: Pixabay
The post The US-China Trade Agreement is Great News from a Hungarian Perspective, Says Foreign Minister appeared first on Hungary Today.
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