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Trade war

US and China reach trade-war ceasefire, but the devil is in details

Gaps emerge over specifics on tariffs and agricultural purchases

The U.S. says China has committed to increasing its imports of U.S. goods and services by $200 billion over the two next years, but Beijing is mum on specifics.   © Reuters

WASHINGTON/BEIJING -- The optimism in the financial market and industry over the first-stage trade deal between the U.S. and China could be short-lived, with Washington and Beijing offering different takes on what was actually agreed on, including the handling of tariffs and amount of agricultural purchases.

The phase one deal means a de-escalation of the current tariff war, but with the actual signing of the document not taking place at least until January, disputes could still rekindle between the world's two largest economies, taking the stock market on a roller coaster ride. 

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