Home Forex Trading China continues to insist tariffs be rolled back as part of Phase One trade deal – ForexLive

China continues to insist tariffs be rolled back as part of Phase One trade deal – ForexLive

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Global Times report on the weekend

There was no good news on trade over the weekend. We’re into December now and the turn of the calendar puts the December 15 planned tariffs into a bit more focus.

Sources in Beijing informed the Global Times that China insists the tariffs must be rolled back as part of the first-phase trade deal. A US pledge to scrap tariffs scheduled for December 15 cannot replace the rollbacks of tariffs… US officials have been resisting such a demand, arguing that tariffs are their only “weapon” in the trade war and giving up the weapon means surrender, according to a different source close to the trade talks.

The Global Times also posted a hopeful op-ed on the weekend but it’s aspirational and doesn’t cited any sources. While a separate report warns that the longer negotiations drag on, the more anti-China sentiment grows.
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