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China in Close Contact with U.S. on Trade, Urges Tariffs Cut (1)

Dec. 5, 2019, 9:04 AM

Chinese officials are in “close contact” with U.S. counterparts on trade negotiations, Ministry of Commerce spokesman Gao Feng said, while reiterating that tariffs should be reduced proportionately as part of a phase-one accord.

Gao declined to give further details on the talks at a regular briefing in Beijing on Thursday.

Stocks rose in Asia and Europe, and U.S. equity futures gained, as the world’s two largest economies try to reach a truce in a 20-month-long trade war that’s led to the largest volley of tariffs since the 1930s -- hitting some $500 billion in shipments going in both directions.

The...

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