China and the United States agree to cancel the tariff increase in stages with the progress of the agreement

- Nov 18, 2019-

At the press conference held on November 7, the spokesman of the Ministry of Commerce spokesperson revealed that in the past two weeks, the leaders of China and the United States have properly resolved their core concerns, conducted serious and constructive discussions, and agreed to progress with the agreement. At the stage, the tariffs are removed.

Gao Feng said that if the two parties (China and the United States) reach the first phase agreement, they should cancel the tariffs according to the content of the agreement and the same rate. This is an important condition for reaching an agreement. Gao Feng said that China’s position on the tariff issue has always been clear and clear. The trade war should start with the addition of tariffs and should also be abolished by the elimination of tariffs. As for the number of cancellations in the first phase, it can be agreed according to the content of the first phase agreement.

Gao believes that the cancellation of the tariffs imposed by the two parties in accordance with the agreement will help stabilize market expectations, benefit the economies of the two countries and the world economy, and benefit producers and consumers.