By  on December 13, 2019

Washington and Beijing finally have a trade truce — with plans to keep negotiating while the existing 25 percent tariffs on Chinese-made goods stay in place.

“We have agreed to a very large Phase One Deal with China,” said President Trump on Twitter Friday. “They have agreed to many structural changes and massive purchases of Agricultural Product, Energy and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder.…The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!”

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