China, US discuss cancelling additional tariffs

President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lemarque, Reuters. Sketched by the Pan Pacific Agency.

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.

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