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US, China seal deal to ease trade tensions

US, China seal deal to ease trade tensions

Mubasher: US President Donald Trump on Wednesday signed a trade agreement with China which puts an end to the trade war between the two major economies that started in tandem with the beginning of Trump’s presidency.

The deal delivers economic justice for workers in the US, Trump remarked, according to Euronews.

The conclusion of the first phase of the trade deal is beneficial to China, the US, and the whole world, Chinese president Xi Jinping said in a letter to Trump.

Under the recent agreement, the US will ease economic sanctions against China, while Beijing will increase its purchases of American farm products and other goods.

In December 2019, the US and China agreed on an initial trade deal that will reduce tariffs between the two countries.