Trump: US-China trade war eases through ‘very large’ deal

The US and China have outlined a cooling in their 17-month long trade war, helping push US stock markets to record highs.

Hours after reports of a so-called phase one agreement being signed off by President Donald Trump, trade officials in Beijing confirmed significant progress had been made following months of tough talks.

Mr Trump later said a “very large” deal had been done.

…..The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!

— Donald J. Trump (@realDonaldTrump) December 13, 2019

At a late night news conference, reporters in the Chinese capital were told arrangements were being made for both sides to meet and sign the deal.

It averts the prospect of an escalation in the trade war, that was due to take effect this Sunday.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

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