China's commerce ministry said Thursday that tariffs must be lowered for there to be a phase one trade agreement with the United States.
Both sides are maintaining close communication, Gao Feng, spokesman at the ministry, told reporters Thursday.
On a phone call last week, lead Chinese trade negotiator Vice Premier Liu He discussed "core issues of concern" with U.S. Trade representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin.
Completion of a phase one deal had been initially expected in November, ahead of a new round of U.S. tariffs scheduled to kick in Dec. 15.
On Nov. 7, Gao said China and the United States must simultaneously cancel some existing tariffs on each other's goods for both sides to reach a phase one trade deal, but how much tariffs should be cancelled can be negotiated.
Reuters
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