The United States and China are approaching a final agreement on the first phase of a trade agreement that could end the trade war between the two countries. That’s what the leading White House economics consultant Larry Kudlow said.
According to the top adviser of US president Donald Trump, negotiators from the US and China are now calling on a daily basis. “We’re getting close. The atmosphere is good,” Kudlow said after a meeting in Washington. He spoke about the “last mile”.
Trump announced some time ago that agreement had been reached on a first part of an agreement with China. Beijing was less certain and since then news about the negotiations on the financial markets has been weighed up again. A planned signing of the partial agreement in Chile was canceled, but that was because the conference where that would happen was canceled.
A spokesperson for the Chinese Ministry of Commerce stated that reversing some US import tariffs is crucial for reaching an agreement.
“The trade war began with the imposition of import duties and will have to end with the withdrawal of these additional duties,” said a spokesman for the ministry according to CNBC business channel.
The Chinese government spokesman did not respond to reports earlier this week that the negotiations would have stalled. That kink in the cable would have to do with the Chinese refusal to put numbers on paper in agreements about higher purchases of American agricultural products, an important point of contention.
In the trade battle with the European Union, Trump would not yet have made a decision about imposing or delaying new import duties on cars from the EU. The president would study advice on that.