November 14, 2019
BEIJING — China is still calling for the U.S. to roll back tariffs as part of any “phase one” agreement, as trade negotiations between the world’s two largest economies drag on.
“The trade war was begun with adding tariffs, and should be ended by canceling these additional tariffs. This is an important condition for both sides to reach an agreement,” China’s Ministry of Commerce spokesperson Gao Feng said at a weekly press conference Thursday, according to a CNBC translation.
“If both sides reach a phase one agreement, the level of tariff rollback will fully reflect the importance of the phase one agreement,” Gao said, noting the two countries’ trade delegations are in deep consultations on this topic.
Trade tensions between the U.S. and China have persisted for well over a year, with each country levying tariffs on billions of dollars’ worth of goods from the other. Now, both countries are in the process of sealing what’s been called a “phase one” deal to address some points of disagreement. Chinese President Xi Jinping and U.S. President Donald Trump were expected to meet in mid-November at the Asia-Pacific Economic Cooperation summit in Santiago, but Chile canceled the event in late October due to domestic unrest.
This article was posted: Thursday, November 14, 2019 at 6:58 am