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Trade war

US and China reach trade deal to partly reduce tariffs

Beijing to increase agricultural purchases by $16bn a year

WASHINGTON/BEIJING -- China and the U.S. have reached a partial trade deal, officials from both countries said Friday, marking a step toward resolving a tit-for-tat tariff battle that has dragged on for well over a year.

"The two sides will complete as soon as possible procedures for the official signing of the agreement," Chinese Vice Commerce Minister Wang Shouwen told reporters in Beijing in a late-night news conference. U.S. Trade Representative Robert Lighthizer told reporters that the deal will be signed at the ministerial level in the first week of January.

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