Investing.com – The United States and China could announce a limited trade deal this week averting a further escalation in trade tensions, the New York Times reported, citing a U.S. Chamber of Commerce official who has been briefed by both negotiating teams.
- Myron Brilliant, the executive vice president and head of international affairs at the Chamber of Commerce, told reporters on Thursday that he was “hopeful” that a limited arrangement stopping a planned tariff increase on Oct. 15 would emerge from this week’s meetings. A limited deal would include the concessions that China has made to the United States, including an agreement on currency, the report said.
- The White House could also contemplate removing the threat of additional tariffs that are slated to be imposed in December or scale back some of the tariffs it has already levied on more than $360 billion of Chinese goods, Brilliant said.
- The agreement, however, is unlikely to address the key sticking points such as China’s economic practices and subsidies to its firms.