China, Donald Trump and trade deal
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China, tariffs
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The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.
U.S. and Chinese officials said they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.
The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
China hailed a trade agreement with the U.S. that will see both sides sharply reduce their tariffs for 90 days, calling it an "important step" that could lead to "deepening cooperation" between the world's two largest economies.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
In remarks Tuesday, less than 24 hours after the United States and China ... also have other tariffs to deal with. Those imposed during Trump’s trade war with China during his first term ...
The United States and China have agreed to a deal ... top officials in the Trump administration claimed to have struck a trade deal with China after two days of talks in Geneva, while Chinese ...