China holds in-depth talks with U.S. on phase one of trade deal

BEIJING (Reuters) - China and the United States are holding in-depth discussions on a "phase one" trade agreement, and cancelling tariffs is an important condition to reach such a deal, the Chinese commerce ministry said on Thursday. The degree of tariff cancellation should fully reflect the importance of a phase one agreement, ministry spokesman Gao Feng told a regular briefing. On Tuesday, U.S. President Donald Trump said a trade deal with China was "close," but offered no details and warned..