Washington and Beijing have agreed to abandon any trade war and back off from imposing tariffs on each other, Chinese state media reported Sunday.

The announcement came after high-level talks in the US capital and followed months of tensions over what President Donald Trump has blasted as an unfair commercial relationship between the two economic giants.

Vice-Premier Liu He, who led Chinese negotiators in Washington said: “The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other,” state-run news agency Xinhua reported Sunday.

Source: US, China agree to abandon trade war: Beijing



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