US says China trade deal has no agreement to reduce tariffs

WASHINGTON: The trade truce with China set to be signed on Wednesday does not include a deal to roll back tariffs imposed on most Chinese goods, US officials said in a statement Tuesday. The joint statement from the Treasury and the US Trade Representative’s office said “there is no agreement for future reduction in tariffs. Any rumours to the contrary are categorically false.”

The statement came after a Bloomberg report said tariffs on billions of dollars in Chinese goods will stay in place until after the US presidential election in November, after which they might be removed. AFP