WASHINGTON—The United States and China formally reached a truce in their two-year trade war on Wednesday, signing a deal that will lead to a rollback of some US tariffs and require China to boost purchases of farm and other products.
“Today we take a momentous step…toward a future of fair and reciprocal trade,” US President Donald Trump said in a signing ceremony at the White House for the so-called phase one deal, emphasizing that it will also address various concerns over Chinese trade practices that have put US firms at a disadvantage.
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