Hold the 'champagne': What Chinese state media are saying about the trade talks [CNBC]
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Source: CNBC
Chinese state media warned the U.S. over the weekend to "avoid backpedaling" on the partial trade agreement, and expressed caution about the initial phase of the deal which President Donald Trump called "very substantial." On Friday, the Trump administration announced it was suspending a tariff increase to 30% from 25% on at least $250 billion in Chinese goods which were set to take effect on Tuesday. However, a tariff hike implemented in September was not rolled back and plans for another hike just before the the Christmas holiday on Dec. 15 remain in place. "While the negotiations do appear to have produced a fundamental understanding on the key issues and the broader benefits of friendly relations, the Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said China Daily on Sunday . In an opinion piece entitled "Let's nail down 'phase one' before moving to the next," the official Chinese state-owned English newspaper pointed fingers at the
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