Beijing has asked the Trump administration to eliminate some of the tariffs the president has imposed.
China is setting its price for signing an interim trade deal with the United States: Drop the tariffs.With talks underway over a narrow agreement to defuse the escalating trade war, Beijing has asked the Trump administration to eliminate some of the duties the president has imposed. China also made clear that new tariffs are a nonstarter.
For Trump, the self-proclaimed “Tariff Man,” the challenge is how — or whether — to walk back duties that have formed a central plank of his effort to remake U.S.-China trade.With the U.S. presidential election only a year away, the two sides are trying to hammer out a relatively narrow “Phase One” deal that Trump and his Chinese counterpart Xi Jinping planned to sign at a now-canceled Asia-Pacific summit in Chile next week.
People familiar with the deliberations say Beijing has asked the Trump administration to pledge not only to withdraw threats of new tariffs but also to eliminate duties on about $110 billion in goods imposed in September. Negotiators are also discussing lowering the 25% duty on about $250 billion that Trump imposed last year, the people said. On the U.S. side, people say it’s not clear whether Trump, who will have the final say, will be willing to cut any duties.
From the Chinese perspective, the argument is that if Beijing is going to remove one big point of leverage and resume purchases of American farm goods and make new commitments to crack down on intellectual property theft — the key elements of the interim deal — then it wants to see equivalent moves to remove tariffs by the U.S. rather than the simple lifting of the threat of future duties.Some media reports are illogical.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China pressing Trump to remove more tariffs ahead of trade deal signing
Lire la suite »
Futures gain on hopes of U.S.-China trade dealU.S. stock index futures rose on Monday, buoyed by hopes of a U.S.-China trade d...
Lire la suite »
Less than a third of Canadians view China favorably: pollOnly 29% percent of Canadians view China favorably and more than half worry abou...
Lire la suite »
Effort in U.S. Congress to rein in China on Hong Kong protests faces obstaclesA push in the U.S. Congress for legislation to support pro-democracy protests in...
Lire la suite »
US-China phase one trade deal won't lead to 'economic nirvana,' Larry Summers saysSummers said even if the U.S. and China sign the partial deal, 'there will still be large tensions and uncertainties' between them.
Lire la suite »