U.S., China Put Tariff Wars on Hold for 90 Days
President Xi Jinping of China and U.S. President Donald Trump paused their trade war by agreeing not to add additional tariffs on goods after Jan. 1. The agreement is good for 90 days and would put 25 percent tariffs on hold for $200 billion worth of products. Meanwhile, talks will continue on a new trade agreement.
“Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent,” the statement added.
Read more at CNBC.