President Donald Trump said on Twitter Thursday that a “big deal” with China is “getting very close. They want it, and so do we!” The President probably tweeted right after the expected meeting with top trade advisers to discuss the planned Dec. 15 tariffs on $160 billion, which will target mobile phones, laptops, toys, clothing and other consumer products. The U.S. has imposed tariffs on Chinese goods in phases over the past two years. U.S. negotiators have offered to cut existing rates by as much as half on roughly half of the $360 billion of Chinese-built goods as well as cancel a new round of levies.
President Trump announced at the beginning of October that the US and China had agreed to a “stage one” agreement covering, financial services, intellectual property rights and purchases in agriculture.“I don’t have a deadline,” Trump recently told reporters during last week’s NATO meetings in London. “In some ways, I think it’s better to wait until after the election with China.” One of the people briefed on the U.S. offer said, “The ball is in China’s court now.” The trade deals would be a great victory for President Trump and China´s President Xi Jinping, China’s president, and President Trump could frame such a near-term deal as a win. Gao Feng, spokesman at China’s Commerce Ministry, said at a news briefing Thursday: “Trade teams from both sides are maintaining close communications.” He did not give additional information.
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