U.S., China reach trade truce
by Lynde Langdon
Posted 10/11/19, 06:22 pm
The United States will forgo a planned tariff hike on Chinese imports worth $250 billion in exchange for China buying U.S. farm products valued at $40 billion to $50 billion. The countries agreed to the cease-fire in their ongoing trade war Friday, a few days before the tariffs were scheduled to take effect.
How significant is the deal? It staves off the most imminent import taxes and signals the two countries are willing to work together on a larger deal. But the two sides haven’t signed any promises yet, and another round of tariffs on Chinese goods worth $160 billion is coming up on Dec. 15.
Dig deeper: Some people in the United States want President Donald Trump to demand that China improve human rights conditions as part of a trade deal. Read June Cheng’s cover story in the latest issue of WORLD Magazine about how China treats pro-democracy protesters in Hong Kong.
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