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China says some tariffs must be cancelled on both sides for trade deal with U.S.

China says some tariffs must be cancelled on both sides for trade deal with U.S.
China's Ministry of Commerce spokesperson Gao Feng attends a news conference in Beijing, China April 6, 2018. REUTERS/Thomas Peter/Files -
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THOMAS PETER(Reuters)
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BEIJING (Reuters) – China and the United States must simultaneously cancel some existing tariffs on each other’s goods for both sides to reach a “phase one” trade deal, the Chinese commerce ministry said on Thursday.

The proportion of tariffs cancelled must be the same, and how much tariffs should be cancelled can be negotiated, said Gao Feng, spokesman at the commerce ministry.

Both sides have agreed in the past two weeks to cancel the additional tariffs imposed during their months-long trade war in different phases, Gao said.

(Reporting by Yawen Chen and Martin Pollard; Writing by Ryan Woo; Editing by Kim Coghill)

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