China maintains tariffs must be reduced for phase one trade deal with U.S.

BEIJING (Reuters) - Tariffs must be cut if China and the United States are to reach an interim agreement on trade, the Chinese commerce ministry said on Thursday, sticking to its stance that some U.S. tariffs must be rolled back for a phase one deal. "The Chinese side believes that if the two sides reach a phase one deal, tariffs should be lowered accordingly," ministry spokesman Gao Feng told reporters, adding that both sides were maintaining close communication. Completion of a phase one deal..