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