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In today’s bulletin: Are US and China ready to roll back tariffs, can Delhi tame pollution and can China teach its young gamers good habits?
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SCENT OF A TRADE DEAL?
China and the United States have reportedly agreed to roll back tariffs on each other’s goods in phases as they work towards a deal between the two sides.
A spokesman from China’s Ministry of Commerce on Thursday (Nov 7) set hopes soaring when he said: “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement.
“If China, US reach a phase-one deal, both sides should roll back existing additional tariffs in the same proportion simultaneously based on the content of the agreement, which is an important condition for reaching the agreement,” spokesman Gao Feng said .
Will they, won’t they? The optimists took note of reports on Thursday that said China had sentenced three nationals to maximum punishments for smuggling fentanyl to the US. This is one of China’s highest-profile moves against the illicit flow of opioids that has been raised by President Donald Trump time and again in trade talks between Washington and Beijing.
So are they poised for a deal after nearly 20 months of a tit-for-tat trade war? In anticipation, stocks rallied. Hong Kong’s Hang Seng Index climbing 0.6 per cent. US and European stock futures jumped. The yuan strengthened.
But the path ahead looks rocky:
The way out of the trade war is obvious but not simple, vet ..
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