US and China struggle to finalize ‘phase one’ trade deal

The US and China are struggling to complete a “phase one” deal to halt their trade war, with senior officials in Washington and Beijing still jostling over intellectual property provisions, agricultural purchases and tariff rollbacks after weeks of negotiations, reported the Financial Times.

Trump administration officials are frustrated that China has not offered enough concessions to justify a reduction in US tariffs on Chinese goods — a longstanding demand from Beijing that has become further entrenched in recent weeks. 

According to FT sources, China was “absolutely” delaying the truce with its approach, jeopardizing the chances that a final agreement could be reached in the coming days, the original target set by both sides. 

“There’s a lot of jockeying going on — it’s a stand-off, in part,” said another person briefed on the talks.