MNI POLICY: US, China Agree To Phased Tariff Removal If Deal

By Wanxia Lin

     BEIJING (MNI) - China and the U.S. have agreed on removing tariffs imposed

since the beginning of the current trade dispute in a phased manner, Ministry of

Commerce spokesman Gao Feng told a briefing Thursday.

     "As for the amount of tariffs to be removed in the first phase, it is

dependent on what's in the 'phase-one' deal," said Gao, without giving details

on which of the tariffs could be cancelled first, or what the U.S. demanded in

return for easing their position.

     If both sides agree a 'phase-one' deal, a level of tariffs proportionate to

scope of the agreement will need to be removed, Gao reiterated, emphasizing that

this would be an important condition for reaching a deal. 

     There are no details yet about when and where the two countries will sign

the interim agreement, Gao added.

     China also urged the U.S. to respect WTO rules, and take actions to remedy

wrongdoings, so to maintain a healthy trade relationship between the two

countries, said Gao, when asked about whether China will go ahead with the

recent WTO ruling over the imposition of $3.6 billion of sanctions on U.S.

goods.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MT$$$$,MGQ$$$]