Trump reaches deal with Beijing to scrap new China tariffs and roll back others
by Sean Higgins
| December 13, 2019 11:19 AM
Beijing and the White House announced Friday they had reached an agreement that would prevent new U.S. tariffs on Chinese goods from going into effect Sunday and reduce some existing tariffs. In exchange, China will increase its purchases of U.S. farm goods.
"We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more," Trump tweeted.
In a follow-up tweet, Trump said, "The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal." The White House had previously been set to enact 15% tariffs on a further $156 billion worth of Chinese goods starting Sunday.
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https://www.washingtonexaminer.com/policy/economy/trump-reaches-deal-with-beijing-to-scrap-new-china-tariffs-and-roll-back-others
