Report: Tariff Rollback Faces Stiff Opposition

China yuan banknote on China flags and US dollar banknote on united states flags for trade war economy crisis concept.
Getty Images

Not everyone in the Trump White House is ready to surrender to China’s demand that the U.S. lift tariffs as part of a ‘phase one’ trade deal.

A report from Reuters, citing unnamed sources, says the reported agreement to roll back existing tariffs “faces fierce internal opposition” at the White House and from outside advisers.

While many China watchers have expected that a ‘phase one’ deal would likely mean a suspension of plans to raise tariffs in December, China on Thursday said the U.S. had agreed to phase out existing tariffs. Trade hawks in the administration and outside fear that this would be surrendering leverage to China just as the tariffs have begun to seriously crimp the Chinese economy.

.

Please let us know if you're having issues with commenting.