Abb Takk News

US-China Deal Cuts Tariffs For Beijing

WEB DESK: United States and China have agreed to a very large Phase One Deal that cuts U.S. tariffs in exchange for Chinese purchases of American farm products and other goods.

The top U.S. trade negotiator said in a statement in Washington, China has agreed to import at least two hundred billion dollars in additional U.S. goods and services over the next two years on top of the amount it purchased in 2017.

In return, the United States would suspend tariffs on Chinese goods due to go into effect tomorrow.