December 1, 2019 | Investopaper
China is adamant that the US must decrease the tariffs imposed on Chinese goods in its first phase if any of the trade deal is to be made. There is still uncertainty over the end of the trade dispute between the two economic giants that have affected the economy of both countries.
“A US pledge to scrap tariffs scheduled for December 15 cannot replace the rollbacks of tariffs,” the newspaper said in a tweet. This refers that if the US and China could not come into a trade settlement, then further tariffs will be imposed on Chinese goods.
US President Donald Trump on Tuesday said that Washington was in “final throes”, pushing too hard to bring an end to the 16-month trade dispute with China through a deal. Top trade negotiators also agreed to work on the remaining issues.
China is not signing the phase one agreement until the reduction of US tariffs imposed on Chinese goods and this means that the first phase deal will not be signed before the new year, Reuters reported.