Tariffs are emerging as the main stumbling block in efforts by the US and China to come to a limited trade deal, a month after the two countries called a truce in their trade war, reported the Wall Street Journal.
The hurdle centers around whether the US has agreed to remove existing tariffs in the so-called “phase one” deal that the two countries have been working toward—or whether the US would only cancel tariffs set to take effect Dec. 15.
“The US negotiators will try to exact the maximum they can before doing anything” on tariff relief, said WSJ sources.
President Trump said on Tuesday that a “significant phase-one trade deal with China could happen soon.” But he added that he is prepared to increase pressure on China if the two sides can’t reach an agreement.
