(Yicai Global) Nov. 15 -- China reiterated Thursday that canceling tariff hikes is an important condition for China and the United States to reach a trade agreement, noting that the degree of tariff cancelation should fully reflect the importance of a "phase one" deal.
China has repeatedly stressed that the trade war was triggered by tariff hikes and should be ended by canceling them, said Ministry of Commerce spokesperson Gao Feng at a press conference.
Removal of tariff hikes is in the interests of both producers and consumers, of China and the United States, and of the world as a whole, Gao said, stressing that this does not just benefit one side.
If China and the United States reach a "phase one" deal, the degree of the tariff cancelation should fully reflect the importance of the "phase one" agreement, and the importance should be jointly assessed by the two sides, Gao said.
China and the United States are holding in-depth discussions on this issue, Gao said.
China is ready to work with the U.S. side to properly address each other's core concerns on the basis of equality and mutual respect to create conditions for reaching the "phase one" agreement, he said.