China insists tariffs must be slashed for phase one trade deal with US

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Delegations have remained locked in discussions with tensions rising over non-trade issues. FMTNews China

Chinese Ministry of Commerce spokesman Gao Feng says both sides have been maintaining close communication.

Completion of a phase one deal between the world’s two biggest economies had been initially expected in November, ahead of a new round of US tariffs set to kick in on Dec 15, covering about US$156 billion of Chinese imports. But “there is no need to panic,” as talks did not stop, a Chinese source who advises Beijing on the trade talks told Reuters on Wednesday.

Beijing may hold back from publishing the list until the trade situation with the United States is at its most tense, a Chinese government source told Reuters in October.

 

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