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Trade war

US and China sign trade truce, with tougher phase of talks to come

Agreement boosts Beijing's farm imports while Washington gives respite on tariffs

Chinese Vice Premier Liu He and U.S. President Donald Trump shake hands during a signing ceremony for "phase one" of the U.S.-China trade agreement in the East Room of the White House.   © Reuters

WASHINGTON/BEIJING/NEW YORK -- The U.S. and China signed a long-awaited "phase one" trade agreement at the White House on Wednesday, easing a 18-month conflict with promises including $200 billion in purchases of American goods from Beijing over the next few years and a modest tariff rollback from Washington.

"Today we take a momentous step... toward a future of fair and reciprocal trade as we sign phase one of the historic trade deal between the United States and China," U.S. President Donald Trump said at the signing ceremony, which was attended by officials from both countries as well as leaders of large American corporations.

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