Imposing tariffs on China due in December might be halted if the first phase of trade talks between the two sides go well, White House adviser Larry Kudlow said in an interview on Monday
WASHINGTON (Pakistan Point News / Sputnik - 21st October, 2019) Imposing tariffs on China due in December might be halted if the first phase of trade talks between the two sides go well, White House adviser Larry Kudlow said in an interview on Monday."If the talks go well on phase one, there is a chance we can get those December tariffs off," Kudlow told Fox business. "We've made a lot of progress. I think we're very close on opening financial services and the Currency stability deal, which is essentially an IMF deal."
On October 13, US President Donald Trump announced he had agreed in principle to a "phase one" trade deal with China's Vice Premier Liu He after high-level negotiations between the two sides in Washington. Trump said the deal includes China agreeing to raise its US agricultural purchases to between $40 billion and $50 billion in addition to making reforms concerning intellectual property and financial services.
Liu, speaking in China last week in his first public comments on the trade talks since his meeting with Trump, said the two countries made "concrete progress" in many areas, laying an important foundation for the signing of a phased agreement, media reported.
Liu added that negotiations must be conducted on the basis of equal and mutual respect to address the two countries' core concerns.
The United States was also due to raise tariffs on Chinese exports from 25 percent to 30 percent on October 15, but that planned increase appears to be on hold as well.
