US & China sign ‘phase one’ trade deal to ease global economic tensions

The first part of a broader trade

The first part of a broader trade agreement between the world’s top economic superpowers was finally inked on Wednesday with the US suspending new tariffs in exchange for Chinese purchases of $200 billion in American goods.

The accord, signed by President Donald Trump and Chinese Vice Premier Liu He, puts on pause the simmering trade row between Washington and Beijing. The more than year-long trade conflict resulted in multiple rounds of tit-for-tat tariffs on billions worth of goods.

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