Oct 11, 2019

Trump says U.S. and China reach partial trade agreement

Illustration: Axios Visuals

President Trump said the U.S. and China reached a partial trade deal on Friday that included an agreement from the U.S. to suspend a planned 30% tariff spike on Oct. 15, while China will buy $40-50 billion worth of U.S. agricultural goods.

Why it matters: The ceasefire comes as the U.S. economy is showing signs of weakness as a result of the trade war — threatening the economic gains Trump has counted on to carry him to re-election in 2020.

Where it stands: Trump described the partial trade agreement — which could be signed by both countries in November — as a "phase 1" deal in the Oval Office on Friday, according to multiple reports.

  • The stock market rallied earlier in the day on news of the ceasefire, but gains faded slightly after news of the partial deal.
  • There's no final decision on whether or not the Trump administration will move forward with imposing the previously announced tariffs on Dec. 15.
  • Trump said the talks "made very good progress on technology transfer" and said the U.S. and China reached "an agreement on intellectual property."

The bottom line: Tariffs imposed by Trump on China's imports have cost the U.S. $26.3 billion, and the battle over China's trade surplus and technology ambitions has disrupted global trade. Economists warn that a final settlement might take years.

Go deeper: The cost of Trump's tariffs

Editor's note: This story has been corrected to reflect that China is anticipated to buy $40-50 billion worth of U.S. agricultural goods, not million.

Go deeper

Updated 1 hour ago - Politics & Policy

Autopsies say George Floyd's death was homicide

Police watch as demonstrators block a roadway while protesting the death of George Floyd in Miami. Photo: Joe Raedle/Getty Images

Preliminary results from an independent autopsy commissioned by George Floyd's family found that his death in the custody of Minneapolis police officer Derek Chauvin was "homicide caused by asphyxia due to neck and back compression that led to a lack of blood flow to the brain," according to a statement from the family's attorney.

The latest: An updated official autopsy released by the Hennepin County medical examiner also determined that the manner of Floyd's death was "homicide," ruling it was caused by "cardiopulmonary arrest complicating law enforcement subdued, restraint, and neck compression."

The Biden-Trump split screen

Photos via Getty Images: Jim Watson/AFP (L); Yasin Ozturk/Anadolu Agency (R)

The differences between former Vice President Joe Biden and President Trump are plain as day as the two respond to recent protests.

Why it matters: Americans are seeing firsthand how each presidential nominee responds to a national crisis happening during a global pandemic.

Louisville police chief fired after body cameras found inactive in shooting of black man

Louisville police officers during protests. Photo: Brett Carlsen/Getty Images

Louisville Mayor Greg Fischer fired the city's chief of police Steve Conrad after it was discovered that police officers had not activated their body cameras during the shooting of David McAtee, a local black business owner who was killed during protests early Monday morning.

Why it matters: Mandatory body camera policies have proven to be important in efforts to hold police officers accountable for excessive force against civilians and other misconduct. Those policies are under even greater scrutiny as the nation has erupted in protest over the killing of black people at the hands of police.