BEIJING (Reuters) – China and the United States are holding in-depth discussions on a “phase one” trade agreement, and cancelling tariffs is an important condition to reach such a deal, the Chinese commerce ministry said on Thursday.
The degree of tariff cancellation should fully reflect the importance of a phase one agreement, ministry spokesman Gao Feng told a regular briefing.
Tuesday - US - President - Donald - Trump
On Tuesday, U.S. President Donald Trump said a trade deal with China was “close,” but offered no details and warned that he would raise tariffs “substantially” on Chinese goods without such a deal.
Trump’s threat was a reference to previously announced tariffs of 15% on about $156 billion of Chinese consumer goods set to take effect on Dec. 15, according to trade experts and a source close to the White House.
Tariffs - Game - Consoles - Computer - Monitors
Those tariffs would hit video game consoles, computer monitors, Christmas decorations and items given as gifts during the approaching festive season.
Last week, White House advisers said the Dec. 15 tariffs would probably be averted if a phase one trade deal was reached.
State - Play - Trade - War - Officials
Highlighting the volatile state of play in the 16-month long trade war, officials of both sides had...
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