China to request U.S. to remove tariffs in exchange for farm purchases
Top U.S. and Chinese trade officials will discuss plans on Friday for China to buy more U.S. farm products. However, Beijing will request cancellation of some planned and existing U.S. tariffs on Chinese imports according to people who briefed on the talks.
U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin, and Chinese Vice Premier Liu He will speak by telephone on Friday in their latest attempt to calm a near 16-month trade war that had roiled financial markets and slowed economic growth.
The two sides are said to be working on a text for a “phase 1” trade agreement announced by U.S. President Donald Trump on Oct. 11 in order for him to sign it with China’s President Xi Jinping next month at a summit in Chile.
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Analysts see Trump’s hailing of $50 billion in Chinese farm purchases as “meaningless”