Global Times on the US offer

China's Global Times is out with a reaction piece on the US offer to Beijing. The take is positive and notes Trump saying that the US side wants a deal.

If the Wall Street Journal report is true that the US would cut existing tariffs on $360 billion worth of Chinese goods by 50 percent, it would be a welcome progress. If such a phase one deal is reached, it means that the trade war has taken a turn with tariffs actually lowered. In that case, we believe that Chinese society will be more active in increasing purchases of US agricultural and other goods.

However, to end the trade war and form new, reciprocal China-US trade relations, the two sides need to make persistent efforts, moving toward canceling all additional tariffs. Since last year, China has launched a series of reforms to open the market wider. It's believed that China will carry out those reforms and keep its promises in line with the agreement with the US, as a full-scale opening-up is also in line with China's interests. And China is a country which highly values honoring its promises.