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
Trump is targeting Amazon and Alibaba
President Trump signs trade memorandum on counterfeit products President Donald Trump puts Amazon, Alibaba, eBay and other online marketplaces on notice, signing a memorandum that aims to curb the sale of counterfeit items online. “This is a shot across...
Drunken online shopping is big business — especially for Amazon
Drunk shopping is an estimated $48 billion industry 85 percent of drunk shoppers visit and make ill-advised purchases on Amazon Tech and business newsletter The Hustle surveyed more than 2,000 alcohol-drinking adults about their online shopping behaviour...
Jeff Bezos: Smart people make decisions differently than everyone else
Smart people tend to change their mind a lot Smart people are open to new points of view, new information, new ideas, contradictions, and challenges to their own way of thinking Jason Fried, co-founder of Basecamp and co-author of the New York Times...