Trump Denies China’s Statement over Agreeing to Rollback Tariffs on Chinese Products

Trump Denies China’s Statement over Agreeing to Rollback Tariffs on Chinese Products.

The U.S. President Donald Trump on Friday said that he had not agreed to the tariffs rollbacks on Chinese products, denied the statement from the Chinese Ministry spokesman Gao Feng on the previous Thursday.

“In the past two weeks, top negotiators have had serious and constructive discussions on resolving issues of core concern,” said Gao Feng in the statement. “Both sides agreed to remove the additional tariffs imposed in phrases as progress is made on the agreement.”

However, Trump had replied the reporter at the White House on Friday, saying that they would like to have a rollback. I haven’t agreed to anything.

“China would like to get somewhat of a rollback, not a complete rollback, because they know I won’t do it,” said Trump. “Frankly, they want to make a deal a lot more than I do.”

The statement from Trump had sparked concerns in the market over whether the negotiation in the past weeks went well like the Chinese spokesman said or not.

Meanwhile, the venue of the most anticipated event on the signing of the first phase trade deal is still being discussed after Chile cancelled the APEC summit, which believed to be the place where Trump would ink the deal with China, due to the protest. It is expected that if the venue for the signing could not be chosen, the earliest meeting would be at NATO summit on December 3-4. However, if the deal fails, tariffs on approximately $156 billion worth of Chinese imports will be added on December 15.