China confirms a very large Phase One Trade Deal with the US
R Sinduja
News Editor
Image Credit: shortpedia
According to China's commerce ministry, China & the US have reached an initial trade deal while Trump tweeted that both of them have agreed a very large Phase One deal. Vice-minister Wang Shouwen said the US agreed to withdraw planned tariffs and that China would consider doing the same. Trump called the agreement 'an amazing deal for all'. He said the 25% tariffs will remain & the previous 15% tariffs will be halved to 7.5%.
