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The U.S. and China on Thursday reached a partial trade agreement that includes scrapping tariffs set to go into effect on Sunday, according to a source familiar with the matter.
Further specifics of the limited deal were not immediately clear, and it must still be signed by President TrumpDonald John TrumpThe Hill's Morning Report - Sponsored by AdvaMed - House panel expected to approve impeachment articles Thursday Democrats worried by Jeremy Corbyn's UK rise amid anti-Semitism Warren, Buttigieg duke it out in sprint to 2020 MORE and leaders in Beijing.
A statement from the White House was expected at some point Thursday evening, according to an official. The White House declined to comment.
The agreement, which was first reported by Bloomberg News, comes just days before tariffs on roughly $160 billion on Chinese goods — including cell phones, video games and certain toys — were set to increase.
The president huddled Thursday afternoon to discuss the situation with China with some of his top trade advisers, including Larry KudlowLawrence (Larry) Alan KudlowMORE, Peter Navarro, Treasury Secretary Steven MnuchinSteven Terner MnuchinTreasury staffer quits after being implicated in college admissions scandal: report China doesn't need World Bank's loans, just as Trump says Trump admin hits Iranian shipping network, airline with new sanctions MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerGOP senator warns quick vote on new NAFTA would be 'huge mistake' Pelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House MORE.
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