The Trump administration has reportedly discussed a China trade deal that would lift some tariffs
The Trump administration has reportedly considered a plan to offer China a deal, according to Bloomberg.
Under the agreement, the US would remove some of its punishing tariffs on Chinese goods.
In return, China would commit to increased farm purchases and changes to intellectual property rules.
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The Trump administration has reportedly discussed a plan to offer China a deal that would include a rollback of some tariffs, potentially defusing tensions in a more than yearlong trade war that has rattled the world’s largest economies.
Bloomberg reported Thursday that under the agreement, the US would remove some of its punishing tariffs on Chinese goods in return for commitments on increased farm purchases and changes to intellectual property rules. The White House did not immediately respond to an email requesting comment.
Ahead of trade meetings set to take place in Washington in early October, the two sides have offered on another what appeared to be modest olive branches in recent days.
China said Wednesday it would shield 16 American product types from retaliatory tariffs for one year from next Tuesday. While the move was seen in part as a way to mitigate domestic costs, Trump announced hours later he would delay some planned escalations for two weeks.
This story is developing.
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Source:: Business Insider