Tariff cancellation was an important condition for any agreement, ministry spokesman Gao Feng said, adding that both must simultaneously cancel some tariffs on each other’s goods to reach a “phase one” trade deal.
The proportion of tariffs canceled for both sides to reach a “phase one” deal must be the same, but the number to be canceled can be negotiated, he added, without elaborating.
“Both sides have agreed to cancel additional tariffs in different phases, as both sides make progress in their negotiations.”
He did not give a timeline.
A source previously told Reuters that Chinese negotiators wanted the United States to drop 15% tariffs on about $125 billion worth of Chinese goods that took effect on Sept. 1.
They also sought relief from earlier 25% tariffs on about $250 billion of imports, ranging from machinery and semiconductors to furniture.
A person familiar with China’s negotiating position said it was pressing Washington to “remove all tariffs as soon as possible.”
Dozens of venues have been suggested for a meeting, which had originally been set to take place on the sidelines of a now-canceled mid-November summit of Asia-Pacific leaders in Chile, a senior Trump administration official told Reuters on Wednesday.
One possible location was London, where the leaders could meet after a NATO summit that Trump is due to attend from Dec. 3-4, the official said.
Gao declined to say when and where such a meeting could be.
Since Trump took office in 2017, his administration has been pressing China to curb massive subsidies to state-owned firms and end the forced transfer of American technology to Chinese firms as a price of doing business in China.