Trade Should End with Tariff Removal, China Ministry of Commerce Says

BEIJING, China – As two of the largest economies in the world, China and the U.S., enter the first phase of their agreement, China is now calling out on the U.S. for a tariff rollback.

According to the CNBC translation, Gao Feng, the spokesperson of China’s Ministry of Commerce, stated on a press conference last Thursday that the trade war started with tariff addition, and it should also end with removing tariffs. This is crucial so that both parties can come up with an agreement.

Gao continued by saying that since they have reached the first phase of the trade deal, the reflection of tariff rollback will be critical. The trade entrustments of China and the U.S. are now in an in-depth discussion concerning this topic.

The growing strain between the China and United States trade deal have been hovering for over a year. China and U.S. have been imposing tariffs of goods that are worth billions of dollars from each other.

As of now, they are in the middle of a trade deal and have reached their phase one, addressing their points of the discrepancy. The president of China, Xi Jinping, and the president of the United States, Donald Trump, are now expected to conduct a meeting this coming November to be held at the Asia-Pacific Economic Cooperation summit in Santiago. However, because of the domestic unrest, Chile has to cancel the event in late October.

Gao didn’t make any comment about Trump’s statement last Friday that he has not yet agreed to the tariff removal of goods from China. He also did not make any comment about a news article that states that China will find it difficult to convince the U.S. to agree in their trade deal because they are unwilling to put into writing the exact amounts of U.S. farm purchases.

As of today, circumstantial evidence has hinted that the businesses from both China and the U.S. are trying different methods in order to cope with the tariffs imposed in each other’s country. For instance, in America, some companies divert their production, and import source has become an option.

A global trade lead at The Economist Intelligence Unit, Nick Marro, said last Tuesday in an email that there has been an increase of the exports that are bound to the U.S. from numerous markets such as Taiwan and Vietnam.

Another analysis from the SellerMotor shows that around 1 million products displayed at Amazon.com in the U.S., half are from sellers from America, and the remaining half are sellers from China.