Full US-China Trade Deal is Close

U.S. and China are close to a trade deal that could lift most or all U.S. tariffs as long as Beijing follows through on pledges ranging from better protecting intellectual-property rights to buying a significant amount of American products.

The speed of the tariff removal is still be negotiated. China is offering to lower tariffs on U.S. farm, chemical, auto and other products, the newspaper said, citing people familiar with the situation.

China is pledging to speed up the timetable for removing foreign-ownership limitations on auto ventures, and to reduce tariffs on imported vehicles to below the current rate of 15 percent.

A US-China Trade summit could happen around March 27.

SOURCES- Wall Street Journal, Bloomberg

Written By Brian Wang