BEIJING / WASHINGTON (Reuters) – China and the United States agreed to push back tariffs on each other's goods as part of the first phase of a trade deal, officials from both sides said on Monday. Thursday, offering a new sign of progress despite the ongoing split over the dispute that lasted for months.
China's Ministry of Commerce, without giving a timetable, said the two countries agreed to cancel tariffs in stages.
A U.S. official, speaking on condition of anonymity, confirmed the planned restoration as part of the Kingdom's first-phase trade deal that President Donald Trump and President Xi Jinping are Aim before the end of the year.
Trump used tariffs on billions of dollars of Chinese goods as his main weapon in the trade war between the world's two largest economies.
The prospect of lifting them, even from time to time, drew fierce opposition from many of his advisers inside and outside the White House and his re-election campaign.
The interim trade agreement is expected to include a U.S. scrap tax commitment scheduled for December 15 for Chinese imports worth about $ 156 billion, including including mobile phones, laptops and toys.
Tariff elimination is an important condition for any agreement, Chinese Commerce Ministry spokesman Gao Feng added, adding that both must simultaneously cancel some tariffs on other goods to reach get treaty first phase.
The trade war begins with tariffs, and will end with the cancellation of tariffs, Mr. Gao Gao said …
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