Trump reportedly approves 'phase I' trade deal with China
Dec '19
The president reportedly signed off on a swap of US tariff reductions in return for China spending $50 billion on US farm goods, tightening its intellectual property protections and opening its financial services markets.
Trump tweeted yesterday that the United States and China are ‘very’ close to an agreement.
Possible reductions of existing duties on Chinese products were also discussed at the White House meeting, according to US media reports. Many of the more difficult issues are, however, still to be addressed.
Beijing is yet to respond on the development.
Fibre2Fashion News Desk (DS)
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