Some White House officials are reportedly opposing plans for Washington and Beijing to remove tariffs imposed on each other's goods,... as part of their trade deal.
Still, U.S. stocks spiked on Thursday amid high hopes of a partial deal.
Yoon Jung-min reports.
With the U.S. and China agreeing to scrap tariffs in phases as part of a partial deal to end a months-long trade dispute,... some officials at the White House have reportedly raised opposition against the idea.
Citing multiple sources,... Reuters said the agreement to remove tariffs has faced fierce opposition from within the White House and from outside advisers.
They have reportedly said a tariff rollback was not included in the deal reached between high-level officials from the two sides in October.
The report added there is a divide over removal of tariffs amid concerns that it could be disadvantageous to Washington in negotiations with Beijing.
Earlier, China's commerce ministry said it had reached a deal with Washington to remove tariffs on each other's goods as part of the agreement.
Reuters said the U.S. also has confirmed it, citing an anonymous U.S. official.
Upon the news of the tariff removal, U.S. stocks again recorded an all-time high.
The Dow Jones Industrial Average rose about zero-point-7 percent to 27-thousand-674,... while the S&P 500 and the Nasdaq were up by roughly zero-point-3 percent each.
President Trump celebrated the stock rally on his Twitter,... saying (quote)"A New Record. Enjoy "
However, the news about the opposition to rolling back tariffs has also negatively affected the stock market a bit.
Yoon Jung-min, Arirang News.
