Business & Economy Politics

U.S, China cease fire talks

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US President, Donald Trump and China’s Xi Jinping agreed Saturday to suspend any new tariffs in the escalating trade war between the world’s two largest economies, even if huge existing duties will remain in place.

The presidents of both great countries, discussed for two hours over dinner and the White House decided that an increase of tariffs from 10 to 25 percent due to take effect from January 1, will be put on hold, providing more room for intense negotiations.

The meeting that led to the agreement was held in Argentine’s capital, Buenos Aires.