China suspends tariff hike on selected US goods, expects ‘mutual respect & equality’ in future trade talks

Tariffs that have already been been implemented on US goods will be left in place until the next stages of negotiations, however.

“China hopes, on the basis of equality and mutual respect, to work with the United States, to properly resolve each other’s core concerns and promote the stable development of US-China economic and trade relations,” the State Council’s customs tariff commission said in a brief statement on December 15.

Also on rt.com US stocks surge even HIGHER after ‘Phase One’ deal with China news

Under the so-called ‘Phase One’ deal, China agreed to slowly increase – by at least $200 billion over two years – the imports of US farm produce such as wheat, corn, and other agricultural products, while making sure not to create “shocks” for Chinese agriculture.

While American markets have been rallying to record highs and Trump declared that negotiations for phase two of the trade deal will begin “immediately,” Chinese authorities have cautioned that this will depend on how phase one is implemented.

For more stories on economy finance visit RT’s business section