[Beijing 17th Reuters]-The Chinese Ministry of Commerce announced on the 17th that it would reach a staged agreement on US trade negotiations as soon as possible and proceed with the withdrawal of tariffs on both products.
A spokesman for the Ministry of Commerce told reporters that a phased agreement would restore market confidence and reduce uncertainty. He added that both parties are still in close contact.
He explained that both countries are now working on the details of the agreement at the administrative level.
US President Trump announced on the 11th that the US and China have reached a “stage 1” trade agreement, but officials from both sides pointed out that more work is needed.
US Treasury Secretary Mnushin announced on the 16th that the negotiation teams are working on documentation so that the leaders of both countries can sign the first-stage agreement next month.
