In October, Chinese factory production slowed significantly more than expected, led by continued trade war and strong weakness in global and domestic demand. Trump has imposed billions of tariffs on Chinese goods to impose major changes in China`s trade and industrial policy. While Britain withdrew from the EU in January, it continues to deal with other countries under the bloc`s umbrella during a transition period that is due to end until 31 December. In the absence of a number of new bilateral agreements, barriers such as tariffs and red tape could hamper trade with countries around the world. The deal means there will be no new tariffs on industrial products after Brexit. The fixed-term agreement was signed by Norway`s Vibeke Rysst-Jensen and British chief negotiator Charlotte Heyes in London. Recalling the volatile state of the 16-month trade war, officials from both sides said last week that they had reached a tariff-removal agreement for the sole purpose of denying Mr. Trump that an agreement had been reached. If an interim agreement is reached and signed, it is generally expected to include a U.S. commitment to eliminate the December 15 tariffs. Trump`s threat indicated that tariffs of 15% to about $156 billion of Chinese consumer goods were to take effect on December 15, as trade experts and a source close to the White House have said. A Reuters poll of economists showed that there is likely to be no lasting ceasefire next year.

The parties are also negotiating a free trade agreement that must be concluded as soon as possible. The Stopgap agreement allows trade between the two countries to continue under the same conditions as Canada`s existing treaty with the EU, while negotiators begin work on a new bilateral agreement between Britain and Canada, Prime Minister Boris Johnson said in a statement. Canada is the UK`s eighth largest trading partner in the EU. “Our negotiators have worked from afar to secure trade agreements for the UNITED Kingdom, and since early next year we have agreed to start working on a new, tailored trade agreement with Canada that will go even further to meet the needs of our economy,” said Johnson. The agreement with Canada includes existing trade rules, which cover trade between the two countries worth $27 billion, or about 1.5% of the UK`s total trade in goods and services over the past year. The agreement provides for increased legal protection for China`s patents, trademarks, copyrights, including improved criminal and civil proceedings to combat online violations, piracy and counterfeiting. After Brexit, the UK secured trade deals with 53 countries, representing $218 billion in bilateral trade, according to the government. That`s less than 12 percent of Britain`s $1.9 trillion in trade last year. The monetary agreement contains Commitments from China to abandon competitive currency devaluations and not to steer its exchange rate towards a trade advantage – a language that China has accepted for years as part of its commitments to the Group of 20 major economies.

LONDON — The United Kingdom signed an interim trade agreement with Canada on Saturday that gives it more time to negotiate trade rules as the British government prepares the country for business outside the European Union. BEIJING (Reuters) – China and the United States are holding “extensive” talks on a first-phase trade deal, and lifting tariffs is an important condition for reaching an agreement, china`s Ministry of Commerce said on Thursday. Last week, White House advisers said that if a “phase one” trade deal was reached, tariffs 15.12.12 would likely be avoided. The economy will face new trade barriers as soon as the UK leaves the European Union and the market in