WASHINGTON, May 20 (Reuters) - The U.S. trade war with China is “on hold” after the world’s largest economies agreed to drop their tariff threats while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Mnuchin and U.S. President Donald Trump’s top economic adviser, Larry Kudlow, said the agreement reached by Chinese and American negotiators on Saturday set up a framework for addressing trade imbalances in the future. “We are putting the trade war on hold. During an initial round of talks earlier this month in Beijing, Washington demanded that China reduce its trade surplus by $200 billion. Commerce Secretary Wilbur Ross planned to go to China, Mnuchin and Kudlow said.

Source: Huffington Post May 20, 2018 14:26 UTC