Both must cut some tax for US-China trade deal: China

US President Donald Trump and Chinese President Xi Jingping

China and the United States must simultaneously cancel some existing tariffs on each other's goods for both sides to reach a "phase one" trade deal, the Chinese commerce ministry said on Thursday.

The proportion of tariffs cancelled must be the same, and how much tariffs should be cancelled can be negotiated, said Gao Feng, a spokesman at the commerce ministry.

Both sides have agreed in the past two weeks to cancel the additional tariffs imposed during their months-long trade war in different phases, Gao said.

 

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)