In an eight-month trade war, the US has impose­d puniti­ve tariff­s on $250 billio­n worth of import­s from ChinaWASHINGTON DC: The United States and China appear close to a deal that would roll back US tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on US goods, a source briefed on negotiations said on Sunday. In an eight-month trade war, the United States has imposed punitive tariffs on $250 billion worth of imports from China, while Beijing has hit back with tariffs on $110 billion worth of US goods, including soybeans and other commodities. Trump administration officials have said they expect the two presidents to ‘close’ a deal at a summit in coming weeks at Trump’s Mar-a-Lago estate in Florida. Cheniere declined to comment on the potential for a new LNG supply deal with China, a spokesman said. Trump a week ago delayed a tariff increase on $200 billion in Chinese goods that was previously scheduled to take place on Saturday, citing progress in the talks.

Source: The Express Tribune March 04, 2019 04:52 UTC