FT shock: U.S. wants to lift $112 billion tariffs on Chinese goods!

China and the United States are likely to sign the first phase of the trade agreement this monthThe Financial Times quoted sources as saying the US was considering withdrawing 15 per cent of the $112bn tariff imposed on mainland goods in September in exchange for a deal with BeijingIn addition, it was earlier reported that China had pressured the United States to eliminate some tariff measures before agreeing to sign an agreement with the United StatesvHc
The Financial Times earlier quoted five sources as saying that Trump administration officials were debating whether to lift the 15 percent tariff imposed on $112 billion in Chinese goods in early SeptembervHc
The U.Smove amounts to a response to the central demands of a trade deal between China and the United StatesPolitico, the US political news site, yesterday quoted three sources as saying that Beijing was "fully pressuring" Washington to withdraw tariffs, not only by demanding that the US lift the 15 per cent tariff on $116bn of Chinese goods scheduled for mid-December, but also on the US withdrawing the 15 per cent tariff measureal measureal it had imposed in SeptemberIn exchange, Beijing agreed to buy up to $5 billion worth of U.Sagricultural products over two years, implement ingested financial markets and boost intellectual property protection before it considered signing a first-phase trade agreement with the U.SvHc
The source also said Beijing has been keen to eliminate existing U.Stariffs on Chinese goods, including 25 percent or at least half of the $250 billion previously imposed on land goods, though the proposal has so far been back in the ballot by Mr Trump's officials and is not included in the first phase of the agreement At this stage, the U.S has first cancelled its planned tax increase of $250 billion in goods from 25 percent to 30 percent in mid-October vHc
　　Sources familiar with the matter told the Financial Times that while there are growing beliefs in Mr Trump's team that the U.S should give in and eliminate existing tariffs on Chinese goods, it's uncertain whether Mr Trump himself will agree, so the proposal to withdraw the 15 percent tariff could be difficult to implement vHc
　　Myron Brilliant, executive vice president for international affairs at the U.S National Chamber of Commerce, said both sides were aware of the importance of signing the agreement at this stage and the need for concessions But Washington hawks and the U.S Congress are likely to oppose lowering existing tariffs, arguing that it would reduce U.S pressure on China and force Mr Trump to bow to Beijing ahead of the 2020 election vHc
　　The first phase of a trade agreement, scheduled to be signed by Chinese and U.S leaders at the Asia-Pacific Economic Cooperation (APEC) summit in Chile in the middle of this month, is being discussed over alternative locations in Alaska, Hawaii and the U.S agricultural powerhouse of Iowa, after Chile canceled its hosting due to domestic protests vHc
　　The U.S is struggling with mechanisms to ensure That Beijing will honor the agreement, the sources said, with the most discussed mechanism being the reintroduction of all tariff measures Senior White House officials say the first phase of the agreement is almost certain to be signed, but the two sides are still negotiating issues such as intellectual property protection, and Beijing is considering signing the agreement in a neutral region outside China and the United States vHc
　　The White House, the U.S Treasury Department and the U.S Trade Representative's office declined to respond to reports vHc
Table.hy-tab (font-size: 12px; margin: 20px 0; width: 100%; border-collapse: collapse; text-align: left; line-height: 22px; table.hy-tab td (border: 1px solid #000; p: 4px 6px; margin: 0; table.hy-tab td h2, .hy-tab td h4 .margin: 0; p:0adding; table.hy-tab td.tit_bg .background: #fda; text-align:center; table.hy-tab td.tit_bg1 .background: #f00; text-align:center; table.hy-tab td p .margin: 6px 0 ; China and the United States are likely to sign the first phase of the trade agreement this month The Financial Times quoted sources as saying the US was considering withdrawing 15 per cent of the $112bn tariff imposed on mainland goods in September in exchange for a deal with Beijing In addition, it was earlier reported that China had pressured the United States to eliminate some tariff measures before agreeing to sign an agreement with the United States vHc
　　The Financial Times earlier quoted five sources as saying that Trump administration officials were debating whether to lift the 15 percent tariff imposed on $112 billion in Chinese goods in early September vHc
　　The U.S move amounts to a response to the central demands of a trade deal between China and the United States Politico, the US political news site, yesterday quoted three sources as saying that Beijing was "fully pressuring" Washington to withdraw tariffs, not only by demanding that the US lift the 15 per cent tariff on $116bn of Chinese goods scheduled for mid-December, but also on the US withdrawing the 15 per cent tariff measureal measureal it had imposed in September In exchange, Beijing agreed to buy up to $5 billion worth of U.S agricultural products over two years, implement ingested financial markets and boost intellectual property protection before it considered signing a first-phase trade agreement with the U.S vHc
　　The source also said Beijing has been keen to eliminate existing U.S tariffs on Chinese goods, including 25 percent or at least half of the $250 billion previously imposed on land goods, though the proposal has so far been back in the ballot by Mr Trump's officials and is not included in the first phase of the agreement At this stage, the U.S has first cancelled its planned tax increase of $250 billion in goods from 25 percent to 30 percent in mid-October vHc
　　Sources familiar with the matter told the Financial Times that while there are growing beliefs in Mr Trump's team that the U.S should give in and eliminate existing tariffs on Chinese goods, it's uncertain whether Mr Trump himself will agree, so the proposal to withdraw the 15 percent tariff could be difficult to implement vHc
　　Myron Brilliant, executive vice president for international affairs at the U.S National Chamber of Commerce, said both sides were aware of the importance of signing the agreement at this stage and the need for concessions But Washington hawks and the U.S Congress are likely to oppose lowering existing tariffs, arguing that it would reduce U.S pressure on China and force Mr Trump to bow to Beijing ahead of the 2020 election vHc
　　The first phase of a trade agreement, scheduled to be signed by Chinese and U.S leaders at the Asia-Pacific Economic Cooperation (APEC) summit in Chile in the middle of this month, is being discussed over alternative locations in Alaska, Hawaii and the U.S agricultural powerhouse of Iowa, after Chile canceled its hosting due to domestic protests vHc
　　The U.S is struggling with mechanisms to ensure That Beijing will honor the agreement, the sources said, with the most discussed mechanism being the reintroduction of all tariff measures Senior White House officials say the first phase of the agreement is almost certain to be signed, but the two sides are still negotiating issues such as intellectual property protection, and Beijing is considering signing the agreement in a neutral region outside China and the United States vHc
　　The White House, the U.S Treasury Department and the U.S Trade Representative's office declined to respond to reports vHc