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Trump: U.S., China reach 'substantial phase one deal'


Added 10-11-19 04:22:02pm EST - “President Trump said Friday the U.S. and China have reached a "substantial phase one deal" to begin to resolve their 18-month trade war.” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Trump: U.S., China reach ‘substantial phase one deal’”. Below is an excerpt from the article.

President Trump said Friday the U.S. and China have reached a “substantial phase one deal” to begin to resolve their 18-month trade war.

The parties are reportedly drafting a truce in which China will buy U.S. farm products in exchange for tariff relief.

The deal, first reported by Bloomberg, will take about three weeks to write and could be signed during mid-November meetings in Chile.

Thorny issues appear to remain, including China’s forced technology transfers and deep subsidies of industries.

Stocks rallied upon the news. The U.S. and China have been trading tit-for-tat tariffs on each other’s goods for months, rattling investors, importers and retailers.

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