This is a developing story. Return to this post for updates.
UPDATE 1
At a press conference in Beijing, Chinese officials have just announced a phase one trade agreement with the United States has been reached.
According to the Chinese, the agreement still requires approval of the translations, in both English and Chinese, of the documentation of the agreement before it is signed by the US and China.
UPDATE 2
There is much unclarity surrounding this press conference and if a deal has been actually reached and, if so, the complete terms of the deal. However, it does appear that US will not impose new tariffs on September 15.
UPDATE 3
Reaction/confirmation from Trump:
We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder....— Donald J. Trump (@realDonaldTrump) December 13, 2019
UPDATE 4We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder....— Donald J. Trump (@realDonaldTrump) December 13, 2019
The Office of the United States Trade Representative releases details of the deal reached, here.
-RW
How much of these massive purchases were items they were already purchasing before the tariffs and trade war?
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