The U.S. will also suspend new import taxes that were set to take effect on Sunday covering $160 billion of products.
The deal presented to Trump by trade advisers Thursday included a promise by the Chinese to buy more U.S. agricultural goods.
Phase-One China-U.S. Trade Deal: What’s In and What’s Missing?
Negotiators from the world’s two biggest economies have been locked in negotiations on a phase-one deal.
China’s Thousand Talents Program Finally Gets the U.S.’s Attention
U.S. Agriculture Secretary Sonny Perdue had said on Monday that he believed there will be “some backing away.”
In a way, this is Lighthizer’s moment of truth.
Pelosi said Monday she won’t consider the deal final until Congress writes a bill to implement the trade agreement.
U.S., Mexico, Canada Sign Changes to Free-Trade Agreement
U.S. negotiators expect a phase-one deal with China to be completed before American tariffs are set to rise on Dec. 15.
Steel Rules for Cars Stall Progress on the Revised Nafta Agreement
Mexico Weighs U.S. Plan to Strip Biologic Drugs From Trade Pact
USTR Robert Lighthizer said the agency is also exploring whether to look into similar digital taxes by Austria, Italy and Turkey.
Lighthizer, the U.S. Trade Representative, needs Mexico and Canada’s sign-off before Democrats will support USMCA.
The U.S. has added Huawei to an entity list to block U.S. companies from selling components to China’s largest technology company.
U.S. Starts Granting and Denying Some Huawei Supply Licenses
Inside the president’s shift from a grand bargain with China to a small deal.
Trump Expected to Delay Tariffs on Imported European Vehicles
U.S. Retirement Fund Would Face China Investment Ban Under Bill
Tariffs, however, have been one of the primary weapons in Trump’s arsenal to redirect manufacturing supply chains out of China.
China and the U.S. plan to highlight joint efforts to crack down on fentanyl smuggling.