Discussions between top-level U.S. and Chinese negotiators – U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steve Mnuchin and Chinese Vice Premier Liu He – were expected to see China request cancellation of “some planned and existing U.S. tariffs” on Chinese imports in exchange for China’s increased purchases of U.S. farm goods, according to sources cited by Reuters.
China was expected to request the U.S. not impose tariffs December 15 on $156 billion in goods from China and that the U.S. remove the 15 percent tariffs put in place in September on $125 billion in China products.
“The Chinese want to get back to tariffs on just the original $250 billion in goods,” one source told the news service. China would, in turn, exempt some U.S. ag products from tariffs, including soybeans, wheat and corn, the report said, with Chinese buyers exempt from existing tariffs to make purchases and get refunds of tariffs already paid on prior purchases.
The report also indicated that Lighthizer and Mnuchin would travel to China the week of November 3, but the Treasury Department did not confirm that possibility.
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