BREAKING: Trump Announces 'Very Substantial' Partial US-China Trade Deal, Tariffs Set To Take Effect Tuesday Canceled

“The US and China have reached a “very substantial phase one” deal on trade, US President Donald Trump has declared, “subject to it being written.” Tariffs due to take effect on Tuesday have been canceled, he says.

Phase one of the deal includes intellectual property, financial services, and agricultural purchases, Trump announced on Friday during a meeting with Chinese vice premier Liu He in the Oval Office, adding that the actual agreement may take up to five weeks to write.

Tariff increases on some $250 billion in Chinese goods, from 25 to 30 percent, will no longer take effect next week. China has agreed to purchase $40-50 billion in agricultural goods, and the countries have reached an agreement on currency issues, Trump declared. Regarding transfer of technology - a particularly sore spot for Washington, which has repeatedly accused Beijing of stealing its intellectual property - Trump said the parties had “made progress,” but that most of those issues would be worked out in phase two.“

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Last Edited by COSMIC WARRIOR on 10/11/2019 04:37 PM