Sources say Chinese officials want US levies on Chinese goods removed to finalise any deal.
US and China’s trade representatives meet for trade talks in Washington, DC.
That’s the amount the Trump administration imposed after China retaliated against the US’s first salvo of US$50 billion in tariffs that kicked off the eight-month trade war. As part of the ongoing talks, the US asked the Chinese not to retaliate or bring World Trade Organisation cases in response to US tariffs that could be imposed to enforce the deal, according to a person familiar with the negotiations.
Plans for a signing ceremony have been complicated by Xi’s need to lead China’s annual National People’s Congress and to make other foreign trips. As part of a deal, China is pledging to speed up the timetable for removing foreign-ownership limitations on auto ventures, and to reduce tariffs on imported vehicles to below the current rate of 15%, the newspaper reported.
Asked during a congressional hearing last week whether a deal would see a lifting of US tariffs, Robert Lighthizer, the China hawk now leading the talks with Beijing, would say only that was China’s desire.Trump and members of his economic team have has sounded optimistic about the chances of sealing a deal.
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