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.