The Trump administration is looking to make progress in 'phase two' trade talks with China on U.S. demands that fell short in phase one, Navarro said.
As part of the initial deal, China agreed to purchase an additional $200 billion in U.S. goods over the next two years. Beijing is also expected to lower structural barriers for American companies hoping to do business there.The phase one agreement, reached in December, canceled planned U.S. tariffs on Chinese-made smartphones, toys and laptop computers. It also cut in half to 7.5% the rate levied on about $120 billion worth of other China imports.
However, the U.S. is leaving in place 25% tariffs on a vast, $250 billion array of Chinese industrial goods and components used by U.S. manufacturers.said at Wednesday's signing ceremony at the White House, "I will agree to take those tariffs off if we are able to do 'phase two.' In other words, we're negotiating with the tariffs."
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