You are the news now

THE NEWS COMMENTER

VOTE  (0)  (0)

China maintains tariffs must be reduced for phase one trade deal with U.S

Added 12-05-19 05:03:02am EST - “Tariffs must be cut if China and the United States are to reach an interim agree...” - Reuters.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Reuters.com: “China maintains tariffs must be reduced for phase one trade deal with U.S”. Below is an excerpt from the article.

BEIJING (Reuters) - Tariffs must be cut if China and the United States are to reach an interim agreement on trade, the Chinese commerce ministry said on Thursday, sticking to its stance that some U.S. tariffs must be rolled back for a phase one deal.

“The Chinese side believes that if the two sides reach a phase one deal, tariffs should be lowered accordingly,” ministry spokesman Gao Feng told reporters, adding that both sides were maintaining close communication.

Completion of a phase one deal between the world’s two biggest economies had been initially expected in November, ahead of a new round of U.S. tariffs set to kick in on Dec. 15, covering about $156 billion of Chinese imports.

Trade delegations on both sides remained locked in discussions over “core issues of concern,” with rising bilateral tensions over non-trade issues such as the protests in Hong Kong and Beijing’s treatment of its Uighur Muslim minority clouding prospects for a near-term deal to end a trade war.

China warned on Wednesday that U.S. legislation calling for a tougher response to Beijing’s treatment of Uighurs in the western Chinese region of Xinjiang will affect bilateral cooperation.

Read more...

Post a comment.

If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

CLICK TO SHARE

BACK TO THE HOME-PAGE