China pushing Trump to remove more tariffs ahead of trade deal

Daniel Fowler
November 6, 2019

Trump administration officials were considering cutting tariffs of 15 percent on about $111 billion in Chinese imports imposed September 1, according to The Financial Times.

The news story cites not much hype concerning the 70th anniversary of the People's Republic and the annual meeting of the Communist Party of China as signaling the dragon nation's push to withdraw all tariffs levied since summer of past year before entering an agreement.

But apart from establishing it as a platform for enterprises to tap the Chinese market, China is committed to turning the expo into a means to synergise global efforts to uphold and advance free trade.

Chinese and US officials are now wrangling over the extent to which the Trump administration will roll back previous tariff increases as the price for Xi agreeing to travel to the U.S.to ink a so-called phase one deal, according to people briefed on the discussions.

"The longer the trade war goes on, the more likely these losses and gains will be permanent", Nicita said. Both the United States and China have an interest in reaching a deal and averting those tariffs.

A trade war between the world's top two economies cut United States imports of China's goods by more than a quarter or $35bn in the first half of this year - and also drove up prices for USA consumers, a United Nations study showed on Tuesday.

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A USA official said the fate of the December 15 tariffs is being considered as part of negotiations and a potential signing trip this month.

Iowa, Alaska, Hawaii and locations in China were all possible places for Trump and President Xi Jinping to sign the deal after the cancellation of this month's Asia-Pacific Economic Cooperation summit in Chile. "It's a win-win for both countries".

Trump even asked American companies to stop working with Chinese companies.

"China will create an environment that respects the value of knowledge, improve the legal system for intellectual property protection, vigorously strengthen relevant law enforcement, and strengthen the protection of intellectual property rights by the protection of civil and criminal justice", added Xi. It is not going to handle industrial subsidies in any respect.

The showcase would also cover 270,000 square meters showing signs that the European Union and China may expand their trade deals depending on the showcase.

The expo, which was initiated previous year, was to increase foreign products' access to Chinese markets as the country makes efforts to narrow the widening trade disparities with its partners. The two sides have reported no progress on their biggest disputes and economists say a final settlement is unlikely this year. President Donald Trump on Sunday told reporters at the White House that a trade agreement, if one is completed, would be signed somewhere in the U.S.

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