U.S., China Reach Partial Trade Deal
Announcement did not include many details; could take up to five weeks to write
President Trump on Friday outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike, but officials on both sides said much more work needed to be done before an accord could be agreed, Reuters reports.
The emerging deal, covering agriculture, currency and some aspects of intellectual property protections, would represent the biggest step by the two countries in 15 months to end a tariff tit-for-tat that has whipsawed financial markets and slowed global growth.
But Friday’s announcement did not include many details and Trump said it could take up to five weeks to get a pact written.