11/21, 2:39 PM (Source: TeleTrader)
more TeleTrader news

Trade deal within reach, tariff removal only hurdle - report

The United States and China are on the "doorstep" of reaching a trade deal that would end the year and half-long trade dispute, sources close to both sides told the South China Morning Post on Thursday, noting however that the tariff removal remains the main hurdle to sealing the accord. Trade negotiators, apparently, cannot agree on what tariffs will be removed as part of the phase-one deal but there are indications that if not removed, the levies are likely to be delayed.

"I don't think you'll have something big delivered by December 15," a source close to the US side stated. "But I do think that you will have something that forestalls the tariffs because it is in both sides' interests," the person stressed.

The sources added that there is still a dash of optimism that an interim deal can be reached before a fresh batch of tariffs kicks in on December 15. According to people familiar with the talks, neither side wants the 15% levies on $156 billion worth of Chinese imports to go into effect as their impact would for the first time be felt by American consumers.

Breaking the News / GG