The United States and China are believed to have reached the terms for a trade deal that would end a costly tit-for-tat tariff war between the world's top two economic powers, new reports say.cited people familiar on the latest developments in ongoing talks between the U.S. and China as saying that Washington's negotiators have settled on the conditions of a phase-one trade deal with their Beijing counterparts. No legal text has been signed, according to the unnamed sources cited.
The agreement-in-principle would delay the next round of planned U.S. sanctions set to enter into force Sunday and scale back some existing measures targeting Chinese goods, according to Bloomberg. China, for its part, would pledge to buy more U.S. agricultural goods should the reported deal be finalized.
"Getting VERY close to a BIG DEAL with China. They want it, and so do we!" President Donald Trump tweeted earlier Thursday, without providing further detail. China's President Xi Jinping shakes hands with President Donald Trump before a bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29.Trump has long criticized the massive trade deficit between the U.S. and China and in May 2017 rolled out steel and aluminum tariffs that launched what's become a multibillion-dollar trade war between the two nations.
Was the quid pro quo on this treaty already arranged? The world is suspecting now to every benevolence of the US.
If there is no agreement on containment and restraint of the Chinese Communist Party, it is recommended that the United States not sign it, and it will be easier to collect tariffs.
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