WASHINGTON — 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 White House said the two sides made some progress on the thornier issues, including China’s lax protection of foreign intellectual property. But more progress will have to be made on key differences in later negotiations, including U.S. allegations that China forces foreign countries to hand over trade secrets in return for access to the Chinese market. President Donald Trump announced the trade truce in a White House meeting with the top Chinese negotiator, Vice Premier Liu He. The news followed two days of talks in Washington. “You’re very tough negotiators,” Trump said to the Chinese delegation.Trump has yet to change plans to impose tariffs Dec. 15 on an additional $160 billion in Chinese products, a move that would extend the sanctions to just about everything China ships to the United States. The Dec. 15 tariffs would cover a wide range of consumer goods, including clothes, toys and smartphones and… Read full this story
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