Chinese chief trade negotiator and Vice Premier Liu He plans to ask the United States on Friday to remove some tariffs on Chinese goods if it wants Beijing to commit to purchasing more American agricultural products, media reported on Friday citing sources familiar with the matter.
Liu is set to have a phone conversation with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin later in the day, the Reuters report noted. The Chinese official intends to offer to buy US farm products but will in exchange expect Washington to cancel some already existing tariffs, as well as plans to introduce more duties on Chinese products.
The US and China made progress towards reaching a so-called "phase one" agreement on trade which Washington hopes to finalize and sign in November. White House economic adviser Larry Kudlow hinted Washington could drop tariffs planned for December if phase-one talks with Beijing end well.
