| 1:22 PM EST

China, U.S. Agree to Phased Rollback for Tariffs

China says it and the U.S. have agreed to simultaneously roll back trade tariffs on each other’s goods in steps that match progress on a broad trade deal.
#MINI #asia

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

China says it and the U.S. have agreed to simultaneously roll back trade tariffs on each other’s goods in steps that match progress on a broad trade deal.

An unnamed U.S. official confirms the rollback plan to Bloomberg News and says the process will begin when Presidents Donald Trump and Xi Jinping sign a “phase one” mini-deal regarding U.S. farm products. Envoys are searching for a venue in which to stage the signing ceremony.

But skeptical investors, noting repeated reversals in the year-old trade war to date, await further evidence of progress, Bloomberg cautions. The two core U.S. demands are for stronger protections for intellectual property and an end to China’s policy of trading access to its market for U.S. technology.

Related Topics

RELATED CONTENT

  • UAW Members Hike Pay for Senior Leadership by 31%

    Delegates to the United Auto Workers union’s annual convention in Detroit have overwhelmingly approved a 31% raise for their salaried international leaders.

  • Designing the 2019 Ram 1500

    Ram Truck chief exterior designer Joe Dehner talks about how they’ve developed the all-new pickup. “We’ve been building trucks for over 100 years,” he says. “Best I could come up with is that this is our 15th-generation truck.”  

  • Developing the Lotus Elise Series 2

    How GM, Toyota and a Couple of Gutsy Managers Made the U.S. Version of the Two-Seater a Reality