President Donald Trump said on Friday, Nov. 8, that he has not yet agreed to roll back tariffs on Chinese goods as a part of the first-phase trade deal between the United States and China.
Speaking to reporters before departing the White House to Georgia, President Trump disputed China’s claims that the two largest economies had agreed to scrap tariffs imposed on each other, according to Reuters.
“China would like to get somewhat of a rollback, not a complete rollback, because they know I won’t do it. I haven’t agreed to anything,” he said.
The president said he was very happy right now when his administration is taking in billions of dollars from tariffs, and so China wanted to make a deal more than he did.
President Trump said the trade deal, if completed, would be signed somewhere in the United States.
“Assuming we’d get it … it could be Iowa or farm country or some place like that. It will be in our country,” the president said.
Speaking at a weekly briefing on Thursday, China’s Commerce Ministry spokesman Gao Feng said Beijing and Washington have engaged in “constructive talks” over the past two weeks to settle trade negotiations and agreed to roll back tariffs in phases.
“If the two sides achieve a Phase 1 agreement, then based on the content of that agreement, tariffs already increased should be canceled at the same time and by the same rate,” stated Gao.
According to CNBC, China is pushing the U.S. to remove tariffs after the Trump administration imposed tariffs on more than $500 billion of Chinese goods, accusing Beijing of unfair trade practices, including forced technology transfers and intellectual property theft. In response, China has put duties on about $110 billion in U.S. products.