Global Times report
Monday's phone call between US and Chinese officials send a positive signal about a deal but that China will stick to its core demands including a proportional removal of tariffs, according to a Global Times report.
"[The two sides] achieved consensus on properly addressing relevant issues and agreed to maintain contact over the remaining issues for the phase one trade agreement," according to a statement released today from the Ministry of Commerce.
While the MOFCOM's brief statement did not offer details on what had been discussed during the phone call, an expert close to the trade talks said that topics may have include tariff removals, agricultural purchases, a review mechanism for the implementation of a potential agreement as well as arrangements for a face-to-face meeting.
Still despite the positive signs, some Chinese experts stressed that China will stick to its core demands, including proportional removal of existing tariffs and a balanced text of the phase one trade agreement.
"The ball is in the US' court," said the expert close to the trade talks who spoke on the condition of anonymity.
Expect more details of the call to leak out in the hours ahead.
