BEIJING, Dec 19 — China and the United States are in touch over the signing of their Phase 1 trade deal, China’s commerce ministry said, which will see lower US tariffs on Chinese goods and higher Chinese purchases of US farm, energy and manufactured goods. The Phase 1 deal was announced last...
China’s Ministry of Commerce spokesperson Gao Feng attends a news conference at the commerce ministry in Beijing June 19, 2018. — Reuters pic
Both the Chinese and US trade teams are in close communication, Gao Feng, a spokesman at the Chinese commerce ministry, told reporters at a regular briefing on Thursday, adding there is no specific information on the deal to disclose currently. According to Washington, that would include additional purchases of US farm products of US$32 billion over two years. That would average an annual total of about US$40 billion, compared to a baseline of US$24 billion in 2017 before the trade war started.
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