The U.S. and China are closing in on a trade deal that would roll back tariffs imposed by both countries, according to a report by the New York Times.
Both countries have agreed on a deal that would require Beijing to purchase more American agricultural and energy products and lower barriers that prevent U.S. companies from operating in China. The U.S. would potentially lift a majority of its 10 percent tariffs imposed last year on $200 billion worth of Chinese products, including hardwood flooring. China has been pursuing an end to all the additional U.S. tariffs, according to the report.
President Trump, who recently halted a scheduled tariff increase on Chinese goods during negotiations last week, tweeted March 1 that he asked China to immediately remove all tariffs on U.S. agricultural products “based on the fact that we are moving along nicely with trade discussions.”
I have asked China to immediately remove all Tariffs on our agricultural products (including beef, pork, etc.) based on the fact that we are moving along nicely with Trade discussions....
— Donald J. Trump (@realDonaldTrump) March 1, 2019
