WASHINGTON (AP) – The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs set to kick Sunday, deescalating their 17-month trade war.
“We’re close to a deal,” says Myron Brilliant, the U.S. Chamber of Commerce’s head of international affairs, who has been briefed by both sides.
Brilliant says the United States has agreed to suspend plans to raise tariffs on $160 billion in Chinese imports Sunday and to reduce existing tariffs though the amount of the cut was not clear.
In return, the Chinese would buy more U.S. farm products, increase Americans firms’ access to the Chinese market and beef up protection for intellectual property rights.
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