As U.S. and Chinese negotiators close in on a "phase one" trade deal, expectations are rising that at least some of these tariffs will be removed
"We're very optimistic that round one will be completed and, hopefully, signed before the end of this year," Marc Short, chief of staff to Vice President Mike Pence, told CNBC
China said it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said Beijing was also considering removing restrictions on poultry imports
The amount of tariff relief that would come in the first phase, set to be signed in the coming weeks, would depend on the content of that agreement, spokesman Gao Feng said
U.S. locations for a Trump-Xi meeting that had been proposed by the White House, including Iowa and Alaska, have been ruled out
The official, who spoke on condition of anonymity, said it was still possible the "phase one" agreement aimed at ending a damaging trade war would not be reached, but a deal was more likely than not
The study, Trade and trade diversion effects of United States tariffs on China, shows that the ongoing US-China trade war has resulted in a sharp decline in bilateral trade
Hopes of a trade truce between the United States and China this month fuelled the optimism, with some more details being filled in on what's expected to be a "phase one" agreement.
The deal is widely expected to include a U.S. pledge to scrap tariffs scheduled for December 15 on about $156 billion worth of Chinese imports
In the international market, both gold and silver prices were quoting lower at USD 1,509 per ounce and USD 18.08 an ounce.
According to a Bloomberg report, US President Donald Trump said he was exploring several locations to sign the first phase of a trade agreement with China, including Iowa.
Discussions are underway over holding the signing in Iowa
In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually
The White House had no immediate comment on the report
Investor wealth soared by Rs 2.73 lakh crore on Tuesday in a buoyant equity market where the BSE benchmark zoomed 581.64 points helped by encouraging quarterly results and US-China trade deal optimism. The 30-share Sensex jumped 581.64 points to close at 39,831.84. During the day, it advanced 666.81 points to 39,917.01. The market capitalisation of BSE-listed firms soared Rs 2,73,355.21 crore to Rs 1,52,04,693.34 crore. "A strong momentum is seen in the market as healthy Q2 earnings from big corporate and attractive valuation for mid & small caps is providing a favourable risk-reward to investors. "The clouds over global market are gradually settling down with developments in trade deal and Brexit, while rate cut expectation from (US) FED will further add impetus to emerging markets like India," Vinod Nair, Head of Research, Geojit Financial Services Ltd said. According to Ajit Mishra, Vice President, Research, Religare Broking Ltd, "The markets in the near term are likely to be .
Brent futures fell 45 cents, or 0.7%, to $61.57 a barrel, while US West Texas Intermediate (WTI) crude fell 85 cents, or 1.5%, to $55.81
The Commerce Ministry said both sides agreed to properly address each other's core concerns
Liu, who is also the chief negotiator in China's trade talks with the United States, was speaking at a virtual reality conference in Nanchang, capital of southeastern Jiangxi province
The fight could set up a "domino effect" for smaller economies, according to a second IMF official
This was the third straight day of gain for the both indices. Also, foreign portfolio investors (FPIs) were net-buyers for a second straight session