WASHINGTON (AP) – The United States is suspending a tariff hike on $250 billion in Chinese imports that was set to take effect Tuesday, and China agreed to buy $40 billion to $50 billion in U.S. farm products as the world’s two biggest economies reached a cease-fire in their 15-month trade war.
The two countries are leaving the thornier issues – including U.S. allegations that China forces foreign countries to hand over trade secrets in return for access to the Chinese market – until later negotiations.
The tariffs on $250 billion in Chinese imports was set to rise Tuesday from 25% to 30%.
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