After weeks of high-level discussions, the US and China have agreed to simultaneously lift existing trade tariffs on each other’s goods in phases. Chinese media reported that a spokesperson from China’s Ministry of Commerce the leaders of both counties have resolved their core concerns in the past two weeks through constructive discussions. Quoting the ministry spokesperson, the report said the most important condition for the first phase of the trade agreement was that the both countries must remove the same amount of charges simultaneously. However, a timeline was not provided at the time of publication. Earlier both the nations have embroiled themselves in a tit for tat tariffs since 2018.
