US sources said that Washington would suspend some tariffs on Chinese goods and reduce others, in exchange for Beijing buying more American agricultural commodities, but the lack of confirmation from either side casts doubt on whether there is a final agreement.
A source, who was informed of the status of the bilateral negotiations, stressed that the United States will suspend duties on Chinese goods worth $ 160 billion, which are expected to come into effect tomorrow (Sunday), and reduce other existing fees.
In return, Beijing will agree to purchase US $ 50 billion in agricultural commodities in 2020, double the amount it bought in 2017, before the outbreak of the trade dispute, according to two US-based sources who have taken note of the progress of the talks.
But there have been no official announcements from Washington or Beijing, raising questions about whether the conditions have met the approval of both sides.
It is scheduled to start applying new Chinese duties on American goods tomorrow (Sunday), while the American fees will apply on Chinese goods at the same time. Both sides will have to issue formal announcements to postpone or cancel those fees.
And two sources familiar with the negotiations said earlier, that Washington offered to reduce the fees based on Chinese goods by 50%, and to suspend the new fees due on Sunday in order to reach the "stage 1" agreement, which first appeared last October. In addition, the Chinese Foreign Ministry said yesterday, in response to a question about the trade agreement with the United States, that it is committed to resolving issues, but the agreement should benefit both parties.