Earlier this month, the US and China had agreed to a partial trade deal, namely, Phase One. As US President Donald Trump expects to give his signature on the US-China trade deal on mid-November, China remains uncertain.
On Friday, President Trump thought that both the US and China will sign the deal during this year’s Asia-Pacific Economic Cooperation (APEC) meetings. That is to say, the meetings will take place on November 16 and 17 in Chile.
“I think it will get signed quite easily, hopefully by the summit in Chile, where President Xi and I will both be. We’re working with China very well,” Trump told reporters at the White House.
Despite the statement, President Trump did not disclose further details pertinent to the matter. No additional information pertinent to the trade exists besides the agreement about agricultural and intellectual property deals.
Elsewhere in China, Vice Premier Liu He confirms that currently the Phase One trade is in progress. However, that does not automatically mean that China totally supports the deal as the country is proposing another talks.
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China Remains Uncertain
Although China had agreed to the partial trade deal, the country announced that it wants to have another talks just recently. Accordingly, the country requests so following its consideration to the ‘unjust’ trade deal.
For that reason, China insists the US to eradicate the additional tariffs despite encountering rejections from Washington. Ministry of Commerce spokesman Gao Feng stated that China’s stance remains unwavering and both US-China do every necessary thing according to their capacities to end the war, including eradicating unnecessary tariffs.
“China’s position, principle and goal for the China-US trade negotiations has never changed. Both sides’ ultimate goal for the negotiations is to end the trade war, cancel all additional tariffs. This is good for China, good for the U.S. and good for the world,” he said as translated by CNBC.
With this in mind, China demands the US to eradicate the previously imposed tariffs. This is so to achieve the ultimate trade deal instead of the partial one.
Despite Gao’s statement, China appears to be uncertain of the partial conclusion. Consequentially, that is why the country keeps on requesting another trade talks prior to the signing for numerous times.
However, apart from the continual requests, Gao justified that China is still willing to cooperate to deal with the dispute. In addition, he confirmed that both countries keep in touch.
“We hope both sides can continue to work together to advance the negotiations and, as soon as possible, reach a phased agreement and make new progress on canceling tariffs,” he added.
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