Gao Fang, Ministry of Commerce spokesman on Thursday said that the Chinese government emphasized that the U.S. must remove tariffs for the two countries to reach a final agreement on trade.
According to a CNBC translation, Gao said in Mandarin in a weekly conference that the position of China and its principle and goal for the China-U.S. trade negotiations have never changed.
He further said that the ultimate goal of both of the government is to end the trade war by negotiating and to cancel all the additional tariffs imposed, which is good for China, the U.S. and the world as well.
The two economic giants have been applying tariffs on billions of dollars’ worth of goods from the other for more than a year, with each country.
After the meeting, the U.S. said it would suspend a tariff increase on Chinese goods that were supposed to take effect on Tuesday this week, the eventual discussion of trade talks between the world’s two largest economies ended late last week in Washington, D.C.
U.S. President Donald Trump said that China agreed to a very substantial inception phase deal, which will be written over the next three weeks. He added that the deal would be addressing intellectual property and financial services concerns, with Chinese purchases worth $40 billion to $50 billion U.S. agricultural products.
The confirmation was not received by Gao on Thursday but he assured that Chinese companies would increase their purchases of U.S. agricultural products, following the Chinese market needs and market-based principles.