China holding in-depth talks with U.S. on phase one of trade deal

China holding in-depth talks with U.S. on phase one of trade deal

FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song

BEIJING (Reuters) – China and the United States are holding in-depth discussions on the first phase of a trade pact, and cancelling tariffs is an important condition to reach a deal, the Asian giant’s commerce ministry said on Thursday.

The degree of tariff cancellation should fully reflect the importance of a phase one agreement, ministry spokesman Gao Feng told a regular briefing.

Reporting by Gabriel Crossley; Writing by Stella Qiu; Editing by Clarence Fernandez

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