Dec 15, 2019

China suspends additional retaliatory tariffs on U.S. goods

A worker at a port in Qingdao, China, 2017. Photo: STR/AFP via Getty Images

China announced Sunday that it is postponing additional tariffs on U.S. automobiles, corn, wheat and other goods that were set to take effect on Dec. 15, Reuters reports.

The big picture: The U.S. and China agreed to a "phase one" trade deal last week in which Washington agreed to delay a tariff hike on $160 billion of Chinese products that was also planned for Dec. 15. In exchange, Beijing agreed to increase imports from the U.S. by at least $200 billion over the next two years, including agricultural goods.

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China to cut import tariffs on 850 products

A port in Lianyungang, Jiangsu Province, China on Dec. 4. Photo: Wang Chun/VCG via Getty Images

China is lowering import tariffs on more than 850 products, the country's finance ministry said in a statement Sunday night.

Driving the news: Goods to benefit from the Jan. 1 tariffs cuts include medication, tech and frozen pork — which could help China's meat shortages, driven by swine fever swine fever, Bloomberg reports.

Go deeperArrowDec 23, 2019

Trump says he'll sign "phase one" trade deal with China on Jan. 15

President Trump tweeted Tuesday that he will sign the "phase one" trade deal with China in a ceremony at the White House on Jan. 15.

The intrigue: Trump did not indicate that Chinese President Xi Jinping would be in Washington for the occasion, saying that "high level representatives" would be present instead. Reports earlier this week indicated that Vice Premier Liu He, China's top trade negotiator, would be the one to sign on behalf of China.

Go deeperArrowDec 31, 2019

China doubles U.S. soybean imports after "phase one" trade deal announcement

Photo: Joe Raedle/Getty Images

China imported 2.6 million tons of U.S. soybeans in November — more than double the previous month — after the announcement of its "phase one" trade deal with the U.S. in October, AP reports.

Why it matters: Soybeans are China's largest U.S. import, but the country stopped purchasing them in the midst of a trade war spurred by U.S. tariffs. While specific details surrounding the "phase one" agreement have yet to be released, the portions unveiled earlier this month amount to little more than an agriculture purchase agreement, per Axios' Dan Primack.

Go deeper: China to cut import tariffs on 850 products

Keep ReadingArrowDec 26, 2019