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11/15/2019, 1:14 PM (Source: TeleTrader)
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Ross: All likelihood China trade deal will be reached

United States Commerce Secretary Wilbur Ross said on Friday that the country will strike an agreement on trade with China "in all likelihood."

Speaking to Fox Business, Ross noted the two sides are in active discussions on the deal and claimed that they are now "much farther along" with details of the agreement. Washington and Beijing will continue negotiations later in the day over the phone. However, he pointed out some issues, such as China's purchases of American farm products, are yet to be sorted in the talks and warned tariffs on Chinese products will remain in place if no agreement is reached.

On Thursday, China warned lifting of certain tariffs on each other's goods should be included in any potential trade deal with the US, while the General Administration of Customs of China removed import limits on US poultry. Furthermore, White House economic adviser Larry Kudlow noted the two sides are "getting close" to an agreement.

Breaking the News / NP