Foreign Trade

U.S., China Reach Tentative ‘Phase One’ Trade Pact

from The Wall Street Journal,

Washington to hold off on ramping up tariffs, and Beijing agrees to boost purchases of U.S. farm goods

The U.S. and China said they agreed in principle on the first phase of a trade accord that could de-escalate tensions between the two economic powers, with the U.S. saying it would hold off on ramping up tariffs next week and China saying it agreed to ramp up its purchases of U.S. agricultural products. “We’ve come to a very substantial phase one deal,” President Trump told reporters after meeting with Chinese Vice Premier Liu He in the White House.

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