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US Makes Tariff-Cut Offer To China; Trumps Says Trade Deal Very Close

12 Dec 2019 10:59 pm
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MUMBAI (Commoditiescontrol) - US negotiators have offered to slash existing tariffs by as much as half on roughly USD 360 billion of Chinese-made goods as well as to cancel a new round of levies set to take effect Sunday, according to people briefed on the matter, as the two sides work toward a limited trade deal that could help prevent their shaky relationship from worsening.

President Trump wrote in a tweet on Thursday morning: “Getting VERY close to a BIG DEAL with China. They want it and so do we!”

The offer to reduce tariffs was made in roughly the past five days, the people said, and in exchange, the US side has demanded Beijing make firm commitments to purchase large quantities of US agricultural and other products, better protect US intellectual-property rights and widen access to China’s financial-services sector.


       
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