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Beijing has announced that Thursday, November 7 to have agreed with Washington for a lifting " in stages " of their reciprocal punitive tariffs. This announcement comes as the Shanghai Fair is being held, an important event for global trade players.
After several months of escalation , the two chief negotiators of China and the United States have resumed the dialogue and for fifteen days, the talks resumed.
Discussions called " serious and constructive " by Gao Feng, spokesman of the Chinese Ministry of Commerce. The latter has just announced, at a press conference, that the two countries have agreed on the principle of gradually canceling existing tariffs .
The procedure would be phased and consistent with the development of the final agreement. If they succeed in reaching an agreement, the tariffs which will be canceled, will be on both sides, at the same time and at the same height.
This announcement by the Chinese Ministry of Commerce belies the rumor of a possible postponement in December of the signing of the agreement initially planned this month. Markets reacted immediately and European stock markets opened on Thursday morning. But caution remains in place. For the moment, the United States has not yet confirmed the Beijing announcement.