The United States and China agreed on the outlines of a partialtrade accord Friday, which President Donald Trump said he and hiscounterpart Xi Jinping could sign as soon as next month.
As part of the deal, China would significantly step up purchasesof U.S. agricultural commodities, agree to certainintellectual-property measures, and make concessions related tofinancial services and currency, Trump said Friday at the WhiteHouse. In exchange, the U.S. will delay a tariff increase due next week as the deal isfinalized, though new levies scheduled for December haven't yetbeen called off.
The agreement marks the largest breakthrough in the 18-month trade war that has hurt the economies of bothnations. Importantly, Trump said the deal was the first phase of abroader agreement. The president indicated he could sign a dealwith Xi at an upcoming November summit in Chile.
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