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Trade war

China suspends planned tariffs scheduled for Dec. 15 on some US goods

A worker drives a truck carrying a container at a logistics center near Tianjin port, China, on December 12.   © Reuters

SHANGHAI (Reuters) -- China has suspended additional tariffs on some U.S. goods that were meant to be implemented on Dec. 15, the State Council's customs tariff commission said on Sunday, after the world's two largest economies agreed a "phase one" trade deal on Friday.

The deal, rumours and leaks over which have gyrated world markets for months, reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.

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