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The United States and China, who have been in a trade war, shaking the world economy for nearly two years, have announced that they have signed a first-tier trade negotiation. The first phase of the agreement ended the year-end tariff war, but there are still issues, and the next round of negotiations is unlikely.

Correspondent Kim Soo-hyung reports from Washington.

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With the success of the US and China in reaching a first-tier trade agreement, the two countries' year-end tariff wars have been avoided.

The agreement included reforming China's economic and trade structure in intellectual property, technology transfers, agricultural products and finance, the US trade representative said.

Trump says China has agreed to buy $ 50 billion worth of agricultural products.

[Trump / US President: We have an agreement with China. I approved it a while ago. What I agree with is not that complicated. It's a wonderful agreement.]

As a result, there was no 15% tariff due tomorrow (15th) that would have been imposed on $ 160 billion worth of Chinese products.

[Vice Minister of Commerce, Wang Shouyuan: China has agreed to phase out tariffs that the United States has added to China.]

But we have decided to keep the existing 25% tariffs imposed on Chinese products worth $ 250 billion.

The first phase of the agreement has been successful, but there are still complex and difficult issues, and the two-tiered trade negotiations between the US and China are also difficult.