US and China agree to lift some tariffs in sign of trade war progress

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China's commerce ministry said the world's two largest economies agreed to cancel some tariffs in phases but gave no timetable.

The US and China have agreed to remove some tariffs on each other's goods as part of the first phase of a trade deal, according to officials from both sides.

The decision could go some way to ease ongoing tensions between the world's largest economic giants, whose months-long trade war has hit the countries' economies and has also had a global impact. The Chinese commerce ministry said the two nations had agreed to cancel the tariffs in phases, but gave no timetable.The interim trade pact was expected to include a US pledge to scrap tariffs scheduled for 15 December on some $156bn worth of Chinese imports, including mobile phones, laptop computers and toys.

But the move is understood to be facing opposition from many of Mr Trump's advisers within and outside of the White House and his re-election campaign.Chinese Commerce Ministry spokesman Gao Feng said at a press conference in Beijing:"Tariff cancellation was an important condition for any agreement," adding that both countries would have to simultaneously cancel some tariffs on each other's goods in order to activate the phase one pact.

 

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