Trade war: China, US moving closer to deal despite Hong Kong and Xinjiang tensions, reports Bloomberg
- US President Donald Trump suggested on Tuesday that a deal could be pushed back until after the US presidential election in November 2020
- Recent US legislation seeking to sanction Chinese officials over human-rights issues in Hong Kong and Xinjiang are unlikely to impact the talks
The United States and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang, people familiar with the talks said, Bloomberg reported.
Outstanding issues in the talks include how to guarantee China’s purchases of US agricultural goods and exactly which tariffs to roll back, they added.
US trade representative Robert Lighthizer’s office did not respond to a request for comment, while China’s Ministry of Commerce also did not immediately respond to a fax seeking comment on tariff rollbacks.
Investors are closely watching for any signs of progress on a phase-one deal, with stocks falling on Wednesday in Asia over renewed worries that Trump may impose more tariffs on China later this month.
