See More on Facebook

Diplomacy, Economics

China, US agree to remove additional tariffs gradually

Both sides said further deals were ‘close’.


Written by

Updated: November 8, 2019

China and the United States have agreed to remove additional duties on each other step by step as they make progress in reaching a comprehensive trade deal, the Ministry of Commerce said on Thursday.

Over the past two weeks, the two negotiating teams had serious and constructive discussions and agreed to remove the additional duties imposed on each other’s products in different phases after they make progress in reaching a deal, ministry spokesman Gao Feng said at a weekly briefing.

If China and the US reach a phase-one deal, both sides should simultaneously undo existing additional tariffs in the same proportion, which is an important condition for signing a preliminary agreement, Gao said.

“As for how much of the tariffs should be removed, the two countries can negotiate based on the content of the phase-one deal,” he said.

The trade conflict began because of additional tariffs, so a truce should be reached through tariff elimination, he added.

After the yearlong trade dispute, the world’s two largest economies have essentially completed their technical consultations regarding part of the text for the phase-one deal outlined in early October.

It had been reported that the two sides might sign the deal during the now-canceled Asia-Pacific Economic Cooperation Economic Leaders’ Meeting, which had originally been scheduled for later this month in Chile.

Asked about the possible location and timing for signing the deal, Gao said he had no further information.

A US anti-tariff advocacy group said on Wednesday that US consumers and businesses paid an additional $38 billion in tariffs from February 2018 to September 2019 due to the trade conflict.

In September, US consumers paid $7.1 billion in tariffs, up 59 percent year-on-year, according to Tariffs Hurt the Heartland, a group supported by more than 150 business and agricultural trade associations.

The advocacy group found that US consumers paid an additional $905 million in the first 30 days since part of additional tariffs on $300 billion worth of Chinese imports took effect on Sept 1.

“This data offers concrete proof that tariffs are taxes paid by US businesses, farmers and consumers — not by China,” said Jonathan Gold, a spokesman for Americans for Free Trade — a coalition of US businesses, trade organizations and workers against tariffs. “This is why removing tariffs must be a part of the phase-one deal,” Gold said.

Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges, said it is urgent for China and the US to reach consensus on a mutually beneficial deal. He said he is optimistic that the two countries will solve their economic and trade issues peacefully.

In another development, the General Administration of Customs and the Ministry of Agriculture and Rural Affairs are studying lifting the restrictions on US poultry product exports to China, Xinhua News Agency reported on Thursday.



Enjoyed this story? Share it.


China Daily
About the Author: China Daily covers domestic and world news through nine print editions and digital media worldwide.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Diplomacy, Economics

Nepal’s luxury hotels are growing but the rooms are empty

There are 15 five-star hotels in the country, and a dozen more are being planned even as existing hotels continue to report a significant drop in profit. High-end hotels might be proliferating across the country but there aren’t enough guests to fill them up, according to the financial reports of Nepal’s three key five-star institutions. The first quarter financial reports from Taragaon Regency Hotels, Soaltee Hotel and Oriental Hotels, all of which are listed on the Nepal Stock Exchange, showed that profits have taken a nosedive after posting record profits last fiscal year. The first quarter of the fiscal year runs from mid-July to the end of September. The three hotel groups say that unhealthy competition, like price undercutting, a demand-and-supply gap, and a growing number of backpackers are behind the sharp fall in earnings. According to its report, Oriental Hotels, which operates Radi


By The Kathmandu Post
November 21, 2019

Diplomacy, Economics

China opposes passage of HK bill by US Senate

The bill criticizes the response to protesters in Hong Kong. China firmly opposes the passage of a Hong Kong-related bill by the United States Senate, a Foreign Ministry spokesperson said Wednesday, urging the US side to stop pushing the bill to become law and stop interfering in China’s domestic affairs. Foreign Ministry spokesman Geng Shuang made the remarks in an online statement after the US Senate passed the Hong Kong Human Rights and Democracy Act on Tuesday. Noting the act ignores facts and truth, applies double standards and blatantly interferes in Hong Kong affairs and China’s internal affairs, Geng said it is in serious violation of international law and basic norms governing international relations. China condemns and firmly opposes it, he said, adding that the country will take strong countermeasures to defend national sovereignty, security and development interests if the


By China Daily
November 21, 2019

Diplomacy, Economics

Trade disputes between Korea and Japan show no sign of abating

President Moon Jae-in blames Japan’s export controls for GSOMIA withdrawal. Escalating trade tension between South Korea and Japan shows no sign of abating as two rounds of bilateral talks to resolve disputes triggered by Japan’s export curbs could not reach common ground. On Tuesday, the two neighboring nations held the second round of talks at the World Trade Organization in Geneva after failing to reach a consensus at the first consultations on Oct. 11. “During two rounds of six-hour intensive consultations, the two nations became more aware of each other’s measures and positions in the process. But we don’t think the two sides have changed their positions,” Chung Hae-kwan, director general in charge of legal affairs at the Trade Ministry, told reporters at a press briefing in Geneva following a meeting with his Japanese counterparts on Tuesday. “We pointed out that Japan’s exp


By The Korea Herald
November 21, 2019

Diplomacy, Economics

PM Imran welcomes release of 2 hostages by Taliban in Afghanistan

Pakistan has stakes in any high level talks between the Taliban and the United States. The Taliban insurgents released two Western hostages — Kevin King from the United States and Timothy Weeks from Australia — on Tuesday in a prisoner exchange deal with the Afghan government, two Afghan officials said. “This morning at around 10am two American University professors were released in Nawbahar district of Zabul province. They were flown out of Zabul by American helicopters,” a local police source said. “The two professors are safely freed and are being taken care of now,” one of the officials said, speaking on condition of anonymity, told Reuters. The American and Australian were exchanged with three Taliban leaders, including key militant figure Anas Haqqani, added Reuters. Three Taliban sources in the province also confirmed the release. There was, h


By Dawn
November 20, 2019

Diplomacy, Economics

Beijing’s comments on HK court decision could signal direct intervention

Beijing has rejected a Hong Kong court decision. China has firmly rejected the Hong Kong High Court’s decision to overturn a controversial mask ban aimed at quelling violent protests, prompting experts to say the central government could soon act to ensure its constitutional authority over Hong Kong is not challenged. China’s Parliament and Cabinet both issued statements early on Tuesday (Nov 19) morning that the ruling challenged the authority of both the Hong Kong authorities and the central government. The response came a day after the city’s High Court ruled that th


By The Straits Times
November 20, 2019

Diplomacy, Economics

What is Oplan Tokhang and why is it in the news?

A particular phrase has popped up a number of times in news from the Philippines in the past several days that is probably a mystery to much of the world. That phrase is Oplan Tokhang, a concept that is directly related to the country’s drug war. Discussions around this idea will be something to keep an eye on in the coming weeks and months. What is Oplan Tokhang? First, what does it mean? The word tokhang, is a made-up portmanteau of the local words for knock (tok) and plead (hangyo) and describes police operations that were launched by the Duterte administration in July of 2016 that involved officers going door to door to root out drug-related offenders. The phrase has become synonymous with the Duterte administration’s notoriously brutal war on drugs, with the word tokhang becoming directly associated with the killings r


By Quinn Libson
November 20, 2019