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12/12/2019, 8:33 PM (Source: TeleTrader)
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US reaches deal in principle with China - reports

The United States has reached a trade deal in principle with China, the US media reported on Thursday.

The agreement awaits the signoff by US President Donald Trump, who is currently holding a meeting with his trade advisors. Reportedly, he had been trying to increase the amount of agriculture products China is supposed to purchase in accordance with the phase one deal.

Earlier today, it was reported that Washington offered to cut tariffs on $360 billion worth of Chinese goods by 50% and cancel the ones due to be implemented on December 15, while Trump announced on Twitter that the US is nearing a "big deal" with Beijing.

Breaking the News / MS