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December 02, 2018 | Reuters
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China, U.S. Declare 90-Day Halt to New Tariffs

White House: China agreed to start purchasing agricultural products from U.S. farmers immediately

China, U.S. Declare 90-Day Halt to New Tariffs

China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days reports Reuters.

The White House said on Saturday that President Donald Trump told Chinese President Xi Jinping during high-stakes talks in Argentina that he would not boost tariffs on $200 billion of Chinese goods to 25% on Jan. 1 as previously announced.

Beijing for its part agreed to buy an unspecified but “very substantial” amount of agricultural, energy, industrial and other products, the White House said in a statement. China agreed to start purchasing agricultural products from U.S. farmers immediately, the White House said.

Read the full report here.

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