China says it has agreed with the US to cancel existing tariffs in different phases
Gao Feng, a ministry spokesperson for China's Commerce Ministry, said that both sides must simultaneously cancel some existing tariffs on one another's goods in order to reach a so-called "phase one" trade agreement, Reuters reported.Fresh hopes of a limited trade agreement prompted U.S. stock index futures to rally Thursday morning, with Dow futures poised to open up more than 125 points.
Market participants had expected the two economic giants to sign a "phase one" trade agreement later this month, after both Washington and Beijing spoke of progress in talks late last week. However, Reuters reported on Wednesday that a meeting between President Donald Trump and Chinese President Xi Jinping could be postponed until December — delaying a chance for the two leaders to sign an interim trade deal.
The world's two largest economies have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018, battering financial markets and souring business and consumer sentiment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil slips on huge U.S. crude build; hopes for U.S.-China trade talks check lossesOil prices dropped on Wednesday after industry data showed a larger-than-expecte...
Read more »
Exclusive: U.S.-China trade deal signing could be delayed until December - U.S. sourceExclusive: A meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue
Read more »
China regulator warns e-commerce platforms to stop monopolistic practicesChina has warned top e-commerce platforms including Alibaba and JD.com to stop p...
Read more »
U.S. Polo Assn. Rolls Out Nantucket Whaler E-commerce SiteUp until this point, Nantucket Whaler was only sold at the company’s flagship store at 7 Old South Wharf on Nantucket Island.
Read more »
Broadway’s ‘Spring Awakening’ Is Ready For China, But Is China Ready For ‘Spring Awakening’?EXCLUSIVE Spring Awakening, the 2006 emotionally powerful, sexually frank and Tony-winning musical by Duncan Sheik and Steven Sater, has been staged around the world, and now for the first time is …
Read more »
Asia markets set to trade little changed amid potential delay in US-China trade dealInvestors will watch for market reaction to overnight developments on U.S.-China trade, following reports that U.S. President Donald Trump and Chinese President Xi Jinping will likely not meet to sign a trade deal until December.
Read more »