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China, US holding ‘in-depth’ discussions on phase one of trade deal

China said “in depth” discussions are underway with the US on phase one of a trade deal and a potential rollback of tariffs. The Chinese commerce ministry stressed that lifting of tariffs is an important condition of the interim deal. The warning comes after US President Donald Trump denied that there had been agreement on any rollback. Mr Trump had even threatened to raise tariffs “substantially” on Chinese goods if a partial deal with Beijing failed to materialise.

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