Global Times report
Breaking news
China's Global Times reports that Beijing and Washington have reached a broad consensus on a phase one trade deal, citing experts close to the talks.
It says they have basically reached a broad consensus and that some differences remain over how much tariffs should be rolled back.
Contrary to some media reports suggesting China and the US are struggling to reach a trade deal, the two sides are still moving closer to agreeing upon a phase one trade agreement with broad consensus having been reached, despite differences over the scale of tariff removals, according to Chinese experts close to the government.
"The two sides have basically reached broad consensus for the phase one agreement," Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing who is close to the trade talks, told the Global Times on Monday, noting that the two sides are still moving closer to reaching a phase one deal soon, unlike the "contradictory information" in the media reports.
The market didn't do much with this headline, at least not yet.
One important caveat is that all the positive trade headlines in the past week or so have come from the Chinese side, while the negative ones are on the US side.
