U.S. and China Agree to Phased Tariff Reductions
Trade talks continue to advance
The United States and China have agreed that tariffs imposed during the months-long trade dispute will be cancelled in phases, although no timetable was specified.
An interim U.S.-China trade deal, “phase one,” is widely expected to include an American pledge to not impose tariffs scheduled for December 15 on about $156 billion worth of Chinese imports, including cell phones, laptop computers, and toys.
A Chinese ministry spokesman said, “The trade war started with tariffs, and should end with the cancellation of tariffs.” He added, “In the past two weeks, the lead negotiators from both sides have had serious and constructive discussions on resolving various core concerns appropriately. Both sides have agreed to cancel additional tariffs in different phases, as both sides make progress in their negotiations.”
China’s state news agency also reported that Chinese customs and the Ministry of Agriculture are considering removing restrictions on U.S. poultry and egg imports.
- With thanksgiving to God for answering prayers about giving wisdom to the negotiators on both sides as they work out a deal on trade.
- That a spirit of good will would continue to oversee the agreements being made between China and the United States.