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China holding in-depth talks with U.S. on phase one of trade deal

BEIJING, Nov 14 (Reuters) - China and the United States are holding in-depth discussions on the first phase of a trade pact, and cancelling tariffs is an important condition to reach a deal, the Asian giant's commerce ministry said on Thursday.

The degree of tariff cancellation should fully reflect the importance of a phase one agreement, ministry spokesman Gao Feng told a regular briefing. (Reporting by Gabriel Crossley; Writing by Stella Qiu; Editing by Clarence Fernandez)

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