US offers to cancel December 15 tariffs on Chinese goods

[TheCount]

United States trade negotiators may cancel a new round of tariffs on imported Chinese goods set to take effect on Sunday, the Wall Street Journal (WSJ) reported on Thursday, citing sources briefed on the matter.

Trade negotiators made the offer as part of a broader effort to cement a phase one deal to de-escalate the trade relationship between the two powers, reported the newspaper.

While US President Donald Trump on Thursday said the US was "very close" to nailing down a trade deal with China, the White House had no comment on the WSJ's report.

US negotiators not only offered to suspend tariffs due to go into effect on December 15, but they also offered to cut existing tariffs on $360bn in Chinese goods by as much as 50 percent, the WSJ noted.

However, during a regular briefing on Wednesday in Beijing, Gao Feng, a spokesman for the Chinese commerce ministry, told reporters, "The two sides' economic and trade teams are maintaining close communication."

Gao declined to comment on possible retaliatory steps if Washington imposes more tariffs on Chinese goods this weekend.

On December 15, the US is due to impose tariffs on almost $160bn of Chinese imports such as video game consoles, computer monitors and toys.

Trump is expected to meet top trade advisers on Thursday afternoon to discuss the move, sources told Reuters previously.

https://www.aljazeera.com/ajimpact/o...164127289.html

[oyarde]

I guess americans can't make video games , consoles and toys . Such important products .

[devil21]

It was surreal watching CNBC a bit ago as the talking heads went on and on lamenting tariffs, lack of concessions by the Chinese, etc while simultaneously cutting to the NYSE opening bell being rung by a CHINESE COMPANY that's now listed on American exchanges and has access to American retirement accounts.

[oyarde]

No chicom has access to muh retirement account .

[Grandmastersexsay]

I guess americans can't make video games , consoles and toys . Such important products .

The chinese are a very small part of the video game market.

[oyarde]

The chinese are a very small part of the video game market.

And the tools they make are mostly crap .

[Grandmastersexsay]

And the tools they make are mostly crap .

Don't fool yourself. Their manufacturing quality is catching up quick. They've gotten a lot of experience in the last few decades.

[nikcers]

Don't fool yourself. Their manufacturing quality is catching up quick. They've gotten a lot of experience in the last few decades.

Only because they subsidized manufacturing to sell stuff as a loss and have less competition because globalists stopped developing manufacturing technologies in other countries because globalists were letting China steal the technologies for short term profit. They are trading their good money for bad and will get what they deserve.

[misterx]

This pleases the OP. In light of this move he will surely withdraw his criticism, and campaign for Trump next year.