If a deal is reached, the U.S. could roll back tariffs on at least $200 billion in Chinese goods while China would remove or cut industry-specific levies like autos.
China and the U.S. are approaching the finish line on trade negotiations that could end later this month, according to three sources.
China's National People's Congress is also expected to pass a new foreign investment law that would change equity ownership rules, and potentially have language about state-owned enterprise subsidies and forced tech transfers. However, CNBC sources are doubtful on how strong the language would be on the latter part.
However, the U.S. wants the ability to re-implement tariffs on Chinese goods if talks fail on enforcement mechanisms on intellectual property theft and related matters. The sources said this is not sitting well with the Chinese.
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