‘China wants US tariffs rolled back in phase one trade deal’

Author: 
Sun, 2019-12-01 22:15

WASHINGTON: Beijing is insisting US tariffs must be rolled back
as part of any phase one trade deal with Washington, China’s
Global Times newspaper said on Sunday citing unnamed sources, amid
continued uncertainty on whether the two sides can strike a
deal.

“A US pledge to scrap tariffs scheduled for December 15 cannot
replace the rollbacks of tariffs,” the newspaper said in a tweet,
referring to an additional round of tariffs on Chinese imports to
be implemented in the absence of a trade deal.

The Global Times is published by the People’s Daily, the
official newspaper of China’s ruling Communist Party.

On Tuesday, US President Donald Trump said Washington was in the
“final throes” of a deal aimed at defusing a 16-month trade war
with China, a few days after Chinese President Xi Jinping had
expressed his desire for a trade agreement. Top trade negotiators
for both countries also spoke again and agreed to continue working
on the remaining issues.

Trade experts and people close to the White House told Reuters
last month, however, that signing of a phase one agreement may not
take place until the new year as China pressed for more extensive
rollbacks of tariffs. An agreement was initially expected to be
completed by the end of November.

Chuck Grassley, chairman of the US Senate finance committee,
told reporters on Tuesday that China invited US Trade
Representative Robert Lighthizer and Treasury Secretary Steven
Mnuchin for in-person talks in Beijing.

Grassley said Lighthizer and Mnuchin were willing to go if they
saw “a real chance of getting a final agreement.”

A source familiar with the trade talks also told Reuters that US
officials could travel to China after Thursday’s Thanksgiving
holiday in the US.

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Source: FS – All-News-Economy
‘China wants US tariffs rolled back in phase one trade deal’