The messages regarding rollback of imposed tariffs as part of the phase one US-China trade agreement were rather confusing and conflicting. White House economic adviser Larry Kudlow told Bloomberg, “if there’s a phase one trade deal, there are going to be tariff agreements and concessions.”

However, another White House adviser Peter Navarro told Fox Business Network: “There is no agreement at this time to remove any of the existing tariffs as a condition of the phase one deal.” And China was just “negotiating in public”, trying to push this in a direction with their “propaganda press.” White House spokeswoman Stephanie Grisham just said “I cannot get ahead of the talks with China, but we are very, very optimistic that we will reach a deal soon”.

Yesterday, China Ministry of Commerce spokesman Gao Feng said “both sides have agreed to cancel additional tariffs in different phases, as both sides make progress in their negotiations.”

Market sentiments are once again lifted by upbeat news regarding US-China trade negotiations, as China said they’ve agreed with the US on a plan to reverse the tariffs imposed.

China Ministry of Commerce spokesman Gao Feng said, at a regular press briefing, “in the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” spokesman Gao Feng said Thursday..

“If China, U.S. reach a phase-one deal, both sides should roll back existing additional tariffs in the same proportion simultaneously based on the content of the agreement, which is an important condition for reaching the agreement.”