REPORT: US, China Take Another Step In Trade Talks, Chinese Official Says
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The U.S. and China are coming closer to lifting some tariffs in what appears to be the beginning of a potential trade deal, China’s commerce ministry announced Thursday, although doubts among U.S. officials as to the specifics of a deal remain.
The announcement came after President Donald Trump met with Chinese trade officials in October and announced that the two countries would work to move toward a tentative agreement, the first phase of which he said could begin in November.
The article goes on to state the following:
“If the phase-one deal is signed, China and the U.S. should remove the same proportion of tariffs simultaneously based on the content of the deal,” Chinese Commerce Ministry spokesman Gao Feng said during a press briefing Thursday, The Wall Street Journal reported. “This is what [both sides] agreed on following careful and constructive negotiations over the past two weeks.”
“One U.S. official concurred that the two sides are planning to roll back tariffs as part of an initial trade pact—which would indicate that reports earlier this week that such a rollback was under consideration had progressed,” the WSJ reported.
China and the U.S. have agreed to lift some tariffs on one another in stages if the two countries reach a partial trade deal, according to China’s Commerce Ministry https://t.co/yCF2NSfXPa
— The Wall Street Journal (@WSJ) November 7, 2019
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