U.S., China Agree to Halt Tariff Increases

The U.S. and China have reached an agreement to stay any tariff increased within the next 90 days, according to the Trump Administration, reports NPR. The agreement will keep a 10 percent tariff on the $200 billion worth of Chinese goods that were to experience a tariff rate hike to 25 percent on Jan. 1, 2019 as the countries negotiate further. The U.S. also claims China agreed to buy more American goods, though it did not specify how much.

So far, the U.S. has imposed tariffs on $250 billion worth of Chinese imports. China has retaliated with tariffs on $110 billion worth of U.S. imports. Full Story

Related: US Joins Canada and Mexico in New Trade Pact; US, China Finalize New Set of Tariffs.

from Specialty Food News https://ift.tt/2SsUtSq