Closing in on deal

Politico is reporting from two sources that:

  • US and China close to a deal to rollback tariffs (10%) immediately on $200B of goods and then phase in elimination of other tariffs
  • A 25 percent tariff the U.S. has imposed on roughly $50 billion-worth of other Chinese goods would likely stay in place longer, possibly until after the 2020 election
  • It's still unclear whether China would lift its retaliatory tariffs on U.S. exports like soybeans and pork or shift retaliatory tariffs to other products
  • Both sides could be close to a deal as early as next week
  • The two sides have also reached an understanding on how to enforce the agreement,

You can read the story HERE