Sources: China tariff demands may expand 'phase one' trade deal significantly - Reuters
|Reuters quotes people familiar with the US-China talks, as saying that a “phase one” trade deal between the US and China could expand if US President Trump yields into Beijing’s demands to roll back existing tariffs on Chinese goods.
The sources said: “Trump has decided that rolling back existing tariffs, in addition to canceling a scheduled Dec. 15 imposition of tariffs on some $156 billion in Chinese consumer goods, requires deeper concessions from China.”
Meanwhile, Trump said on Tuesday that he will "just raise tariffs" if the US doesn't make a deal with China.
As for Wednesday’s trading so far, the risk sentiment remains sour amid fresh concerns over the US and China on the Hong Kong human rights bill approved by the US Senate. This may spillover to the impending US-China trade talks and render negative for the much-awaited trade deal.
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