China demands US to roll back tariffs in phase one trade deal: Report

According to Chinese local media report, Beijing is insisting US tariffs must be rolled back as part of phase one tre deal with Washington. Yet it is still uncertain wher countries will settle for a deal at all. In a tweet, report ded that a US pledge to scrap tariffs scheduled for December 15 cant replace rollbacks of tariffs, referring to an ditional round of tariffs on Chinese imports to be implemented in absence of a tre deal. publication is official newspaper of China's ruling Communist Party. Earlier on vember 26, Trump said Washington was in "final throes" of a deal aimed at defusing tre war with China. same was reiterated by negotiators who aimed to dissolve tensions. 

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Earlier in vember, Xi Jinping told media, “As we always said we don’t want to start tre war but we are t afraid. When necessary we will fight back but we have been working actively to try t to have a tre war. We want to work for a Phase 1 agreement on basis of mutual respect and equality”. 

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Beijing invited US officials for discussions on negotiations

phase one agreement might t be signed this year quoted tre experts and people close to White House last month. officials earlier expected to come to a deal by vember end. Beijing invited US Tre Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin for in-person talks in Beijing said US Senate Finance Committee Chairman Chuck Grassley told reporters on vember 26. He ded that Lighthizer and Mnuchin were willing for negotiation if y saw "a real chance of getting a final agreement". US officials could travel to China after Thanksgiving holiday in United States, said an official to ncy.

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China has retaliated with tariff hikes on US imports. US President Donald Trump on vember 19 warned China that without a tre deal it may face more tariffs. He said that if US doesn't make a deal with China, n he threatened to increase tariffs even higher. Trump ministration has been asking China to curb massive subsidies to state-owned firms and end forced transfer of American techlogy to Chinese firms as a price of doing business in China. phase 1 deal fails to dress aforementioned issue of industrial subsidies and rar focuses on Chinese purchases of US farm goods and intellectual property protection related to copyright and tremark issues as mentioned by tre analysts to media. Charles Boustany, a former congressman from Louisiana and counselor at National Bureau of Asian Research, said that China will anyway continue to do what it's doing and deal will just be status quo. Moreover, inconsistencies in China’s new foreign investment law will fail to fulfill benefits of increased access to China’s financial services market, y ded. 

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