China Says There Will Be No Trade Deal Unless Existing Tariffs Are Stripped
The U.S. has to lift all the tariffs placed on Chinese goods if there is to be a trade deal, China’s Ministry of Commerce said on Thursday.
“If the two sides are to reach a deal, all imposed tariffs must be removed,” Ministry of Commerce spokesman Gao Feng said on Thursday. “China’s attitude on that is clear and consistent.”
The two countries reached a truce in their year-long trade war last week at the G-20 summit in Japan. President Donald Trump and Chinese leader Xi Jinping agreed to hold off on imposing new tariffs and start negotiations again. Trump also decided to ease his ban on American companies selling products to Chinese telecom giant Huawei. China said it would continue to buy U.S. agricultural products.