China and the United States agree to phase out the tariff increase

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      In the past two weeks, China and the United States have agreed to phase out tariff increases along with the progress of the agreement, said Gao Feng, a spokesman for the Ministry of Commerce on Thursday. As for the number of cancellations in the first phase, it can be determined according to the contents of the first phase agreement, which is conducive to stabilizing market expectations and the economies of China and the United States and the world economy.
He said at a press conference held in the interim notice of the Ministry of commerce that if China and the United States reach a first stage agreement, they should cancel the added tariff at the same rate according to the content of the agreement, which is an important condition for reaching the agreement. The working teams of China and the United States have maintained close communication and hope to properly address each other's core concerns on the basis of equality and mutual respect.
"China's position on the tariff issue is always clear. The trade war begins with the imposition of tariffs, and ends with the abolition of tariffs." He said.
As for where the two sides signed the agreement after Chile cancelled the APEC summit, the summit said "there is no specific information to disclose at present".


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