China, trade and White House
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The White House backed off from the steepest levies, as the costs of an all-out trade war with China threatened global economic growth.
The White House says the U.S. and China have agreed to suspend for 90 days most of the tariffs imposed against each other over the last couple months.
The Trump administration has lowered the tariff on low-value shipments (under $800) from China and Hong Kong from 120% to 54%, as part of a temporary trade
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
China is moving to strengthen its alliances as a counterweight to President Donald Trump’s trade war, presenting a united front with Latin American countries at an event in Beijing