President Trump and Chinese leader Xi Jinping reached an agreement on trade Saturday night, the White House press secretary said, that amounts to a temporary stand-down in the two countries’ trade war.
At the leaders’ highly anticipated dinner summit in Buenos Aires, Trump agreed to hold off on raising tariffs imposed on Chinese imports, and China agreed to purchase an as-yet-unspecified “very substantial” amount of U.S. products to reduce the trade deficit. With those concessions made, the two sides will allow 90 days for broader negotiations over Chinese trade practices before the U.S. resumes ramping up retaliatory measures.
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