The US Has Reached a Trade Deal "In Principle” with China

World | December 13, 2019, Friday // 12:08| Views: | Comments: 0
Bulgaria: The US Has Reached a Trade Deal "In Principle” with China

President Donald Trump has signed off on an initial trade agreement with China that would avoid imminent US tariffs and reduce the rates of existing duties in exchange for a Chinese promise to purchase American farm goods. This was announced today by a source familiar with the negotiations between the two countries, CNN reported.

President Donald Trump had a meeting today with his trade advisers. Before the meeting, the United States Trade Representative Robert Lighthizer presented the outlines of the partial deal which were approved by the President.

US negotiators have proposed cutting 50 percent of the customs duties on Chinese goods for about $ 375 billion, two sources said. They also proposed canceling the tariffs on $156 billion in goods that Donald Trump had threatened to impose on Sunday. 

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Tags: Donald Trump, US, China, trade war
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