BEIJING, Nov 15, 2019, China Daily. China and the United States are in the midst of conducting in-depth discussions on the significance of the phase-one trade pact, and rolling back tariffs is a key condition to reach the deal, the Ministry of Commerce said, China Daily reported.
If both sides could reach a preliminary agreement, the degree of tariff removals should fully reflect the importance of the agreement, ministry spokesman Gao Feng said at a weekly briefing.
“The importance of the deal should be measured by both parties, and as such, both sides are holding in-depth discussions on the deal,” Gao said.
The trade conflict began because of additional tariffs, so a truce should be reached through tariff elimination, he added.