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Money China says have agreed with U.S. to cancel tariffs in different phases

10:20  07 november  2019
10:20  07 november  2019 Source:   reuters.com

China to ask U.S. to remove tariffs in exchange for ag buys in talks Friday: sources

  China to ask U.S. to remove tariffs in exchange for ag buys in talks Friday: sources China to ask U.S. to remove tariffs in exchange for ag buys in talks Friday: sourcesRobert Lighthizer, the United States Trade Representative, U.S. Treasury Secretary Steven Mnuchin, and Chinese Vice Premier Liu He will speak by telephone Friday, their latest attempt to calm a nearly 16-month trade war that is roiling financial markets, disrupting supply chains and slowing global economic growth.

(Bloomberg) -- China and the U . S . have agreed to proportionally roll back tariffs on each other’ s goods in phases , a Ministry of Commerce spokesman China ’ s key demand since the start of negotiations has been the removal of punitive tariffs imposed by President Donald Trump, which by now apply to

China , U . S . Agree to Phased Tariff Rollback as Deal Progresses. Bloomberg News. , Ministry of Commerce says negotiators had ‘constructive’ “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made

a man wearing a suit and tie: China's Ministry of Commerce spokesperson Gao Feng attends a news conference at the commerce ministry in Beijing© Reuters/Thomas Peter China's Ministry of Commerce spokesperson Gao Feng attends a news conference at the commerce ministry in Beijing

BEIJING (Reuters) - China and the United States have agreed in the past two weeks to cancel tariffs imposed during their months-long trade war in different phases, the Chinese commerce ministry said on Thursday.

China and the United States must simultaneously cancel some tariffs on each other's goods for both sides to reach a "phase one" trade deal, said Gao Feng, spokesman at the commerce ministry.

The tariff cancellation is an important condition for there to be any agreement, he said at a regular press briefing.

China's industrial profits fall 5.3% in Sept as trade war toll mounts

  China's industrial profits fall 5.3% in Sept as trade war toll mounts China's industrial profits fall 5.3% in Sept as trade war toll mountsIndustrial profits fell 5.3% in September from a year earlier to 575.6 billion yuan ($81.48 billion), data released by the National Bureau of Statistics (NBS) on Sunday showed. That compared with a 2% decline in August.

China hopes to reach a phased agreement in a protracted trade dispute with the United States and cancel tariffs as soon as possible, the Commerce Ministry Trump said China had agreed to make purchases of billion to billion of U . S . agricultural goods. Mnuchin said the purchases would

트럼프 "중국, 미국차에 매기는 40% 관세 없애기로" U . S . President Donald Trump says China agreed to "reduce and remove" tariffs on American cars as a result of a trade war

The proportion of tariffs cancelled must be the same, and how many tariffs should be cancelled can be negotiated, Gao told reporters.

"The trade war started with tariffs, and should end with the cancellation of tariffs," Gao told reporters.

He did not give a timeline.

A source previously told Reuters that Chinese negotiators wanted the United States to drop 15% tariffs on about $125 billion worth of Chinese goods that went into effect on Sept. 1.

They are also seeking relief from earlier 25% tariffs on about $250 billion of imports from machinery and semiconductors to furniture.

A person familiar with China's negotiating position said it was pressing Washington to "remove all tariffs as soon as possible".

A deal may be signed this month by U.S. President Donald Trump and Chinese President Xi Jinping at a yet-to-be determined location.

Dozens of venues have been suggested for a meeting, which had originally been scheduled to take place on the sidelines of a now-cancelled mid-November summit of Asia-Pacific leaders in Chile, a senior official of the Trump administration told Reuters on Wednesday.

One possible location was London, where the two leaders could meet after a NATO summit that Trump is due to attend from Dec. 3-4, the official said.

Gao declined to say when and where such a meeting could be.

(Reporting by Yawen Chen and Martin Pollard; Writing by Ryan Woo; Editing by Kim Coghill)

Canada's main stock index up moderately, loonie slips against U.S. dollar .
TORONTO — Major North American stock indices edged forward amid ongoing uncertainty in China-U.S. trade relations. The S&P/TSX composite index advanced 71.67 points to 16,877.42. In New York, the Dow Jones industrial average advanced 6.11 points to 27,680.91 The S&P 500 index moved up 7.85 points to 3,093.03, while the Nasdaq composite rose 40.80 points to 8,475.31. "It's some dialling back of trade-deal optimism, for sure," said Erik Bregar,The S&P/TSX composite index advanced 71.67 points to 16,877.42.

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