President Donald Trump on November 8 said he has not agreed to tariff rollbacks sought by China. US and Chinese officials a day before had said both sides agreed to roll back tariffs on each others’ goods in a ‘phase one’ deal. As the idea was reportedly opposed within the US administration, Trump’s statement raises doubts over when the trade war would end.
“China would like to get somewhat of a rollback, not a complete rollback, ‘cause they know I won’t do it,” Trump said. “I haven’t agreed to anything,” global newswires quoted the president as saying.President Donald Trump on November 8 said he has not agreed to tariff rollbacks sought by China. US and Chinese officials a day before had said both sides agreed to roll back tariffs on each others' goods in a 'phase one' deal. As the idea was reportedly opposed within the US administration, Trump's statement raises doubts over when the trade war would end.#
He said China wanted to make a deal more than he did, adding that the US tariffs were generating ‘billions of dollars’ for US coffers. “I’m very happy right now. We’re taking in billions of dollars,” he said.
China’s ministry of commerce spokesman Gao Feng had said last week negotiators had discussions and “agreed to remove the additional tariffs in phases as progress is made on the agreement.”
White House economic adviser Larry Kudlow also said on November 7 that “if there’s a phase one trade deal, there are going to be tariff agreements and concessions.”
ALCHEMPro News Desk (DS)
marketing@alchempro.com
