Published: Thu, December 05, 2019
Global News | By Blake Casey

Beijing wants rollback on United States tariffs

Beijing wants rollback on United States tariffs

President Donald Trump has made it quite clear that he'll increase US tariffs on Chinese goods if a trade deal isn't reached by December 15, but that shouldn't interfere with shoppers' prices this holiday season, Commerce Secretary Wilbur Ross said Monday.

But while the week started on a positive note, worries about the trade talks were revived by China's Global Times newspaper saying Beijing wanted all United States tariffs rolled back as part of a mini deal, a move observers said Washington is unlikely to agree to.

The Global Times is published by the People's Daily, the official newspaper of the Chinese Communist Party.

It cited officials saying that China will buy American farm products and the amount "could be substantial, but it cannot promise a specific number in the deal because the amount must be based on market demands".

Trade experts and people close to the White House told Reuters last month, however, that the signing of a Phase 1 agreement may not take place until the new year, as China pressed for more extensive rollbacks of tariffs.

"Rolling back tariffs is a must".

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Global Times said in separate tweet that Washington's interference in China's internal affairs and applying pressure on the country to buy USA commodities could threaten the deal.

It said China was already addressing issues such as protection of intellectual property, foreign investment regulations and opening of its financial markets independently of the trade talks.

"I'm doing very well, if I want to make a deal, I don't know that I want to make it, they're going to find out pretty soon". Chinese Vice Premier Liu He said he had invited senior US officials to Beijing for further talks.

Trump last week signed a new law backing protesters in Hong Kong and threatened China with possible sanctions on human rights.

When asked if the two sides will reach a deal this year, Trump told reporters at Andrews Air Force Base, "The Chinese are always negotiating". But promising to not implement the next tranche of tariffs would not suffice, the Global Times said.

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