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U.S. reaches deal in principle on trade with China: source

Published 12/12/2019, 03:16 PM
Updated 12/12/2019, 03:21 PM
U.S. reaches deal in principle on trade with China: source

U.S. reaches deal in principle on trade with China: source

By Andrea Shalal

WASHINGTON (Reuters) - The United States has reached a "phase-one" trade deal in principle with China, a source briefed on talks between the two nations said on Thursday, saying a statement from the White House was expected soon.

Trump was scheduled to huddle with his top trade advisers at 2:30 p.m. (1930 GMT) on Thursday. Ahead of the meeting, U.S. Trade Representative Robert Lighthizer told senators that announcements were possibly "imminent" on U.S. tariffs, senior Republican Senator John Cornyn told reporters.

Bloomberg News was first to report a deal in principle had been reached.

U.S. negotiators have offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board, two people familiar with the negotiations said, and suspend tariffs on $160 billion in goods scheduled to go into effect on Sunday.

Latest comments

market go up just because trump is willing to pull back on tariffs for the first time. if he change hi mind this time, market wont recover for a very long time.
Deja vu all over again. Let’s see here. This should only take until February 2022 to iron out all the details. And then it’s on to Phase 2....
what does in principle mean?
They have reached an agreement verbally but the deal contract haven't been signed yet. It's just waiting for Mr Trump to sign.
So the hreat deal maker will habe us near where we started before losing tons of money in trade. Yeah genious
Let me guess... it is the greatest deal ever?
Yes, the house is only half burned down and Trump saved half of house which is the greatest deal ever. Everything he does is the greatest, most beautiful, most wonderful, the best in history.
This is like, US punched China in the face (tariffs on Chinese goods), China punches back (tariffs on US agricultural products), on and on, then one day US makes a deal with China to stop punching each other (US reduce or stop tariffs on Chinese goods in return China stop tariffs on US agricultural products) . Any accomplishments here? Why then US punch China in the first place and cause all these troubles worldwide? This is simple stupidity.
so impeachment trade what's next I think the tax returns
Good, In principal.
This fake presidency must go the drama should be halted at all costs. Why as a taxpayer am I paying for this, this is crazy
that's it that's the deal what a waste of freaking time
what will be the rate tommorow anybody tell me i open a lot please help i should close are not
Close bro. Play safe.
Lol
so trade war not so easy to win? just admin lost and move on, let equity rise 30% easily.
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