Washington and Beijing agree to retract existing tariffs


Washington and Beijing agree to retract existing tariffs

Washington and Beijing had both agreed to retract existing tariffs on each sides’ goods on Friday.

Gao Feng, spokesperson for China’s Commerce Ministry said that “both sides should undo existing additional tariffs in the same proportion to reach phase one deal, and that is an important condition for signing a preliminary agreement.”

He added that the two sides were still negotiating on how much of the tariffs should be removed.

Gao’s comments were echoed with White House spokeswoman Stephanie Grisham and said that the Trump administration is “very optimistic” that the two sides would “reach a deal soon.”    

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