US-China Trade Deal
Beijing’s top priority in the trade deal with the United States is the removal of existing tariffs on Chinese goods
“Sources with direct knowledge of the trade talks told the Global Times on Saturday that the U.S. must remove existing tariffs, not planned tariffs, as part of the deal”, reports CNBC.
Global Times, published by the official People’s Daily newspaper of China’s ruling Communist Party, also cited another unidentified source close to the talks as saying U.S. officials had been resisting such a demand because the tariffs were their only weapon in the trade war and giving up that weapon meant “surrender.”
Officials with the U.S. Trade Representative’s office and the U.S. Treasury Department did not reply to a request for comment.
The United States is poised to impose an additional 15% tariff on about $156 billion of Chinese products on Dec. 15. It is widely expected that those tariffs will be averted if a deal is struck, but China is pressing for rollbacks of previous tariffs.
More Amazon news
Alibaba is expanding its operations in Europe
Alibaba plans to compete with Amazon in Europe Alibaba is investing further in Europe to compete with Amazon for the European Union’s exploding e-commerce market. Alibaba remained among the top three online sellers of consumer goods in eastern Europe last year,...
Amazon responds to criticism and launches new tools for sellers
New Amazon tools for sellers After facing criticism for allegedly copying popular products and manipulating search results, Amazon has announced new tools to help sellers identify promising product areas and understand search results. Product Opportunity Explorer...
New antitrust bill to stop Amazon from harming third-party sellers
US senators against Amazon A bipartisan group of senators in the US has announced plans to introduce a new antitrust bill that could reshape Amazon and other online marketplaces. The proposed bill would prohibit platforms from requiring companies operating on their...