US postpones next tariff hike after China trade talks
Addis Ababa, October 12, 2019 (FBC) – The US has agreed to suspend its next tariff hike on Chinese imports after two days of trade talks in Washington.
US President Donald Trump said negotiators had reached a “phase one deal” that would include increased agricultural purchases and address financial services and technology theft.
China’s top negotiator Liu He also said he was “happy” with progress.
The US was due to raise tariffs on some Chinese goods to 30% next week.
US share markets, which had risen on reports of a deal, closed higher, but shed some gains in the final minutes of trade as it became clear any agreement was relatively limited.