China: Tariffs should be reduced for US, China to reach deal - Commerce Ministry

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Chinese Ministry of Commerce spokesperson Gao Feng said that "if China and the US want to reach a first phase agreement, we should reduce tariffs accordingly," during a press conference in Beijing, Thursday, adding that "the economic and trade teams of the two sides have been in close communication.''

Feng highlighted the China's opposition to "unilateralism," adding that "China also advocates the establishment of open, transparent, mutually beneficial and win-win regional free trade agreements. As long as they are, we take a positive attitude toward those that are in line with WTO principles, open, inclusive, transparent and conducive to economic globalisation and regional economic integration."

Since last year, the Chinese and the US have been engaged in a 'trade war,' raising tariffs and other trade barriers on each other's exports.

Video ID: 20191205-020

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Ministry