Beijing to insist US proportionally removes existing additional tariffs simultaneously with China - Global Times

Commenting on some media reports claiming that the Trump administration is considering rolling back tariffs on $112 billion worth of Chinese imports as a concession to finalise the phase of the trade deal, "Based on what I know, Beijing will insist that the US proportionally remove existing additional tariffs simultaneously with China," tweeted out the Editor-in-chief of Chinese and English editions of the Global Times, Hu Xijin.

"The US keeping all tariffs, only suspending new tariff threat, in exchange for major concessions from China, China won't accept such a phase 1 deal," Xijin added.

The 10-year US Treasury bond yield retreated from its highs after these comments but it's still adding 1.7% on the day.