A week after President Donald Trump threatened to withdraw from the Paris climate accord, Chinese President Xi Jinping and California Gov.
Jerry Brown announced a $200 billion trade deal on Monday.
Trump has long accused China of devaluing its currency to steal U.S. jobs and has called the pact a “disaster.”
But the deal would likely be the first large-scale bilateral trade deal between the U.K. and China in nearly a decade.
China has long demanded the U.”s relationship with the U., as well as the world, be enhanced, and this would be the most important trade deal of the Trump era.
The deal is aimed at promoting the China-U.K.-U.S.-China partnership, which includes energy, finance, health care and other sectors.
China’s President Xi Jinpeng waves as he meets with U.M. Secretary of State Rex Tillerson during a state visit in Beijing, China, Nov. 17, 2019. “
China has been in the forefront of the fight against the global warming threat,” Brown said in a statement, adding that “the U.k. has a clear position on the global climate crisis and China is making a strong stand on the need for an urgent global solution.”
China’s President Xi Jinpeng waves as he meets with U.M. Secretary of State Rex Tillerson during a state visit in Beijing, China, Nov. 17, 2019.
AP The two sides also announced a trade pact that would allow U. S. firms to ship their goods to China from the U.’s coastlines and to buy Chinese products.
China is the world’s second-largest consumer of U.s. goods and has been working on a new pact for years, but the deal is seen as crucial to Beijing’s economic recovery.
It could also help the U and the U ‘s relationship.
Both sides have expressed concern about U. s stance on the Paris agreement and its impact on the U s economy.
Brown said the deal will help the two nations “build a new foundation for economic growth, innovation, trade and global leadership.”
“China is going to take great pride in the new bilateral agreement and I’m confident we’ll work hard to promote it,” Brown added.
In an interview with CNBC, Brown said that he believes the U ls economy will grow “significantly” by 2040.
He said China will take a lead in the global economy, and the trade deal will make that happen.
Trump’s threat to pull out of the Paris deal was the largest trade war between the two countries since World War II.
In March, Trump said he would pull out unless China and other countries “re-engage” with the Paris accord.
On Friday, Brown and Xi announced a pact that will allow China to sell liquefied natural gas, which is a key component of U .s energy supply.
China had previously refused to sell LNG to the U, saying it would make it harder for the U to compete in global markets.
“The two countries have worked together on a number of issues, including the trade agreement, and I am confident that this new agreement will create an even stronger relationship between China and the United States,” Brown told CNBC.
“We’re going to get along just fine.”