U.S.-China trade talks are progressing well and the United States aims to sign a...
WASHINGTON - U.S.-China trade talks are progressing well and the United States aims to sign an initial deal this month, top Trump administration officials said on Friday, offering reassurance to global markets after nearly 16 months of tit-for-tat tariffs.
U.S. and Chinese negotiators had made “enormous progress” toward finalizing a “phase one” agreement, although the deal was not yet 100% complete, White House economic adviser Larry Kudlow told reporters on Friday. For now, Kudlow said planned U.S. tariffs on Chinese-made laptops, toys and other goods that are due to go into effect on Dec. 15 would remain on the table. He said the decision on whether they would go ahead would be made by President Donald Trump.
Agreements on agriculture, financial services and currency were nearly completed, and there had been “excellent progress” on intellectual property theft issues, Kudlow said, although some additional work remained on that topic. In financial services, the agreement would “give 100 percent ownership to American companies in China,” Kudlow said, citing insurers, security firms, and investment and commercial banks.
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