US President Donald Trump said he would likely speak to Chinese leader Xi Jinping later this week following talks between Washington and Beijing to temporarily lower tariffs and de-escalate the trade war.
The tariff arrangement will see the combined 145% US levies on most Chinese imports reduced to 30% and the 125% Chinese duties on US goods will drop to 10% for three months to give the countries time to negotiate a broader agreement on trade.
Trump claimed that China had agreed to “suspend and remove all of its non-monetary barriers” and that tariffs could go above the 30% level if talks over the next 90 days failed to secure an agreement.
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