U.S. Presidential Adviser Peter Navarro denied information about the agreement between the U.S. and China on the abolition of duties. Navarro announced this on the program, Lou Dobbs, last night. According to him, the parties have not reached any agreements on reducing or abolishing tariffs on trade.
“There is currently no agreement to cancel any existing tariffs as a condition of the first phase deal,” Navarro said. He noted that the only person who can make such a decision is US President Donald Trump.
On November 7, Chinese Ministry of Commerce spokesman Gao Feng announced the agreements between China and the United States on the gradual abolition of previously imposed reciprocal duties as part of the agreement on the first phase of the settlement of the trade dispute, Bloomberg reported. A representative of the U.S. Ministry of Trade told the agency that such a step will enter the first stage of the settlement of the trade dispute.
The trade war between the U.S. and China has been going on since 2018, U.S. President Donald Trump began to impose import duties on Chinese goods, China in response also imposed duties. The parties repeatedly negotiated a deal, but eventually again increased import duties on each other’s goods. On September 1, new U.S. duties on Chinese goods totalling $300 billion came into force. From October 1, tariffs increased to 30% for another list of products from China worth $250 billion. The next increase in duties on a number of Chinese goods is expected in December. Trump has demanded that U.S. companies move their production from China to the United States.