BloombergChina and the US have agreed to roll back tariffs on each other’s goods in phases as they work toward a trade deal between the two sides, Chinese Ministry of Commerce spokesman Gao Feng (高峰) said yesterday. “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” Gao said. “Investors are still cautious.”The two sides continue to negotiate over where and when a “phase one” deal would be signed. Trump administration officials have expressed optimism that phase one of a comprehensive trade deal might come together this month, helping boost equity markets to records this week. Given repeated reversals in the more than year-long trade spat, investors are waiting for further confirmation of progress between the two sides.

Source: Taipei Times November 07, 2019 16:01 UTC