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China says it hopes to agree with the US on tariff reductions at ‘an early date’
China said negotiators are seeking cuts on $30 billion of goods from each side as leaders prepare for talks in Washington.
- Commerce Ministry spokesperson Huang Ling announced Thursday that negotiators are striving to implement reciprocal tariff reductions on $30 billion of goods "at an early date."
- President Donald Trump and Chinese leader Jinping are expected to meet in Washington on Sept. 24, with both governments characterizing the summit as a way to stabilize relations between the world's two largest economies.
- The negotiators aim to identify and reduce tariffs on $30 billion of "non-sensitive" goods as a central component of the China Board of Trade agreement established in Beijing.
- Natixis economist Gary noted the agreement could benefit the U.S. more, as $30 billion represents roughly 28% of its exports to China versus around 10% for Chinese exports the other way.
- The existing tariff truce between both countries expires in Nov., and Gary cautioned that "overall trade significance will be more limited than before, given the smaller bilateral volume.
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China sends friendly message on tariffs ahead of Trump-Xi meeting
Beijing expressed hope on Thursday that lengthy trade negotiations with the United States will be resolved soon, issuing a tentatively optimistic outlook ahead of President Donald Trump’s meeting with Chinese President Xi Jinping later this month. The U.S. and China have been in talks looking to redo trade deals ever since Trump first slapped Beijing […]
·Washington, United States
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Coverage Details
Total News Sources45
Leaning Left10Leaning Right11Center11Last UpdatedBias Distribution35% Center, 34% Right
Bias Distribution
- 35% of the sources are Center, 34% of the sources lean Right
35% Center
L 31%
C 35%
R 34%
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