China requested on Monday that United States President Donald Trump removes tariffs scheduled for mid-December and lifts penalties he imposed in September as the Chinese President Xi Jinping is reportedly considering a visit to the US in order to sign a phase one trade deal.
Three people familiar with the matter told Politico that China is into a "full-court press" for the tariff removal in exchange for the decision to buy up to $50 billion worth of US farm goods in two years. Also, China pledged to open its financial services sector and increase intellectual property protections.
Earlier today, China's Foreign Ministry spokesman Geng Shuang said that Xi and Trump have been in contact all the time and Trump told reporters that the phase one of the US-China trade agreement could be signed in Iowa, a state with the highest corn and hog production in the country.
