EU, China Reach Tentative Deal to End Telecom Equipment Tariff Threat

EU, China Reach Tentative Deal to End Telecom Equipment Tariff Threat

The European Union and China have reached a tentative deal that will end the threat of punitive import tariffs on Chinese telecommunications equipment makers Huawei Technologies Co. and ZTE Corp., people familiar with the agreement said. Chinese Minister of Commerce Gao Hucheng and the EU Trade Commissioner Karel De Gucht are expected to meet in Brussels on Oct. 18 after the Asia-Europe summit meeting in Milan to complete the agreement, an EU official said. Negotiators have an oral agreement but are still waiting for written confirmation, the official said.