China woos Trump to remove tariffs through phase 1 trade deal

05.11.2019 - Evdokimov Roman
China woos Trump to remove tariffs through phase 1 trade deal

The “Phase One” of the U.S.-China trade deal has it that the Chinese government is pushing U.S. President Donald Trump to erase imposed tariffs in September.

One of the highlights of the trade deal that will be signed by Chinese President Xi Jinping and Donald Trump is the inclusion of the White House’s abolishing tariffs slated on Dec. 15. It is about $156 Billion worth of Chinese imports which include mobile phones, computers, laptop, and toys.

One source familiar with the trade talks bared that Chinese officials want the U.S. to erase 15% tariffs on about $125 Billion worth of Chinese goods which was implemented on Sept. 1. China also wants to ease tariffs on $250 Billion imports from machinery and semiconductors to furniture.

“It’s in both countries’ interest to have this trade deal,” Ralph Winnie, director of the China program at the Eurasia Center said.

Earlier last week, Trump already remarked trade deal between the U.S. and China as a good ongoing deal that would be sealed during the signing on a date yet to be specified.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?