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U.S. and China Appear Close to Deal to Roll Back Tariffs

Posted March 04, 2019

Under Economic Issues, International Trade Issues


The United States and China appear close to a deal that would roll back US tariffs on at least $200bn worth of Chinese goods as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on American goods.

US President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday.

In an eight-month trade war, the US has imposed punitive tariffs on $250bn worth of imports from China, while Beijing has hit back with tariffs on $110bn worth of US goods, including soybeans and other commodities. The actions have roiled financial markets, disrupted manufacturing supply chains, and reduced US farm exports. Click here to read more.