Trump, Xi reach trade detente
by Kent Covington
Posted 12/03/18, 10:59 am
The United States and China have reached a 90-day cease-fire in their ongoing trade war. U.S. President Donald Trump and Chinese President Xi Jinping agreed to the truce at a dinner meeting at the G-20 economic summit in Buenos Aires over the weekend. Trump said he would hold off on plans to raise tariffs Jan. 1 on $200 billion dollars of Chinese goods. The Chinese agreed to buy a “not yet agreed upon, but very substantial amount of agricultural, energy, industrial” and other products from the United States, Trump said. The move would go a long way toward cutting the U.S. trade deficit with China, according to the White House.
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