Phase: Media Reports and Trade

phase: Photo IC Contrary to some media reports suggesting China and the US are struggling to reach a trade deal, the two sides are still moving closer to agreeing on a phase one trade agreement with broad consensus having been reached, despite differences over the scale of tariff removals, according to Chinese experts close to the government, according to Global Times China. The two sides have basically reached broad consensus for the phase one agreement, Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing who is close to the trade talks, told the Global Times, noting that the two sides are still moving closer to reaching a phase one deal soon, unlike the contradictory information in media reports. Chinese and US negotiators met in Shanghai in a bid to bring an end to a year-long trade war. Gao further noted that the two sides have even agreed to roll back tariffs as part of the phase one deal, but there were different opinions over which tariffs should be removed or to what degree the tariffs should be lowered. Geng Shuang, a spokesperson for the Chinese Ministry of Foreign Affairs on Monday reiterated that the two sides have maintained close contact and China hopes both sides could find a solution acceptable on the basis of equality and mutual respect. Gao's comments were in line with Chinese officials' long-standing stance concerning the trade talks China wants a deal, but a fair and balanced one. (news.financializer.com). As reported in the news.