The US will suspend a $250 billion tariff hike against Chinese good that was due to take effect next week, while China agreed to purchase $40-$50 billion worth of US agricultural products, according to news reports.
The White House said the two countries made “some progress” on other trade issues, including foreign intellectual property, but more negotiations are reportedly scheduled for later.
The announcement followed two days of trade talks between China and the US. So far, there have been no reports of a change of plans for $160 billion worth of tariffs against Chinese goods set to take effect Dec. 15, 2019.