The United States is suspending a tariff hike on $250 billion in Chinese imports that was set to take effect Tuesday, and China agreed to buy $40 billion to $50 billion in U.S. farm products as the world's two biggest economies reached a cease-fire in their 15-month trade war.
President Donald Trump shakes hands with Vice Premier Liu He in the Oval Office of the White House in Washington, Friday, Oct. 11, 2019. (AP Photo/Andrew Harnik)
The two countries are leaving the thornier issues — including U.S. allegations that China forces foreign countries to hand over trade secrets in return for access to the Chinese market — until later negotiations.
The tariffs on $250 billion in Chinese imports was set to rise Tuesday from 25% to 30%. President Donald Trump announced the trade truce in a White House meeting with the top Chinese negotiator, Vice Premier Liu He. The news followed two days of talks in Washington.
"You are very tough negotiators,” Trump said to the Chinese delegation.