The US government has reached a first part of a provisional trade agreement with the Chinese government, various US media reports Friday based on anonymous sources. With this, the planned increase of import tariffs on December 15 seems off the job.
According to the sources, President Donald Trump still has to sign the agreement and official confirmation of the agreement from the White House is still lacking.
In the so-called first phase of a trade agreement, the Chinese government promises to purchase more agricultural goods from the United States. On the American side, it is said that the existing import tariffs can be halved.
On Sunday, December 15, import rates of 15 percent would be set at $ 160 billion worth of Chinese goods that the US imports. If those rates were actually to take effect, that would probably further escalate the trade dispute between the US and China. Analysts saw December 15 as the deadline for a first part of an agreement.