hopes are rising over the world’s two
biggest economies to end their trade war as to US and China are reportedly
considering dropping some of the tariffs for their phase one of the trade deal
alright Kim Jae Hee has more The Wall Street Journal reported on Tuesday that
the US and China are actively considering withdrawing some tariffs a
senior Trump administration official was quoted as saying removing tariffs will
be part of it if the US and China reach a trade deal Washington and Beijing
agreed in principle last month to end the trade conflict the V Swan trade deal
would include China’s purchase of American agriculture goods and rules to
deterred currency manipulation it would also contain methods to protect US
intellectual property in exchange for freezing tariff increases on hundreds of
billions of dollars of Chinese goods the US Commerce Secretary Wilbur Ross made
positive remarks regarding the matter on Tuesday saying that good progress was
being made towards completing the face1 trade deal China’s foreign ministry also
sent out positive signals saying the two leaders have maintained continuous
contact on October 25th the heads of the two teams agreed in a telephone call to
properly address each other’s core concerns and affirmed Ed’s technical
consultations on part of the text had basically been completed they will have
another telephone call shortly in the meantime working-level
consultations will be continued at a fast pace this is also in line with
president Trump’s recent optimistic remarks we are looking probably to be
ahead of schedule to sign a very big portion of the China deal and we’ll call
it phase 1 but it’s a very big portion with a trade war between the world’s two
biggest economies going on for more than a year
hopes are high among global markets for a trade deal to be reached as early as
this month kim daehee arirang news

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2 thoughts on “U.S. considers dropping some tariffs on China to reach ‘phase one’ trade deal: WSJ”

  1. I’m wary of these “optimistic remarks” by Trump. The U.S. is still a long way from coming up with clear headway in this trade dispute, and the real issue of China’s subversive industrial policy leading to modern day economic espionage, piracy, counterfeiting, and intellectual property theft has yet to be addressed. Right now, we’ve a gotten some quick fixes to appease the American people, particularly farmers being hit by the tariffs. But settling for minor wins won’t make the difference in a problem as deeply rooted in Chinese firms’ culture as IP theft. Trump must not make any concessions going forward, as it’s his hardline approach on China that’s distinguishing him from past U.S. administrators. And while it is aiding his legacy, let’s also not forget that not doing anything substantial to end China’s widespread ideology of taking others’ innovations and inventions and tech will have grave repercussions on the future of both the U.S. and global economy.


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