Current Chinese tariffs sticking point in phase one trade deal

Current Chinese tariffs sticking point in phase one trade deal

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Existing tariffs may be the sticking point in a phase one trade deal with China.

Reuters cites sources who say the U.S. must remove taxes already in place on Chinese goods not just planned tariffs.

China's Global Times also says U.S. officials have been resisting that demand but the U.S. has yet to comment. An additional 15 percent tariff on Chinese products is set to take effect on December 15th.

Another factor that could heighten trade tensions; President Donald Trump signing two bills. The measures throw support behind Hong Kong's democracy protestors. China's retaliation does not involve trade. Officials call on the U.S. to stop meddling in Hong Kong affairs.

President Trump says "we're in the final throes of a very important deal..." adding, "it's going very well. But at the same time, we want to see it go well in Hong Kong, and I think it will. I think that President Xi can make that happen."

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