The United States and China signed an initial trade deal on January 15 that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved. Beijing and Washington touted the “Phase 1” agreement as a step forward after months of start-stop talks, and investors greeted the news with relief. But there also was skepticism the U.S.-Sino trade relationship was now firmly on the mend. While acknowledging the need for further negotiations with China to solve a host of other problems, U.S. President Donald Trump hailed the agreement as a win for the U.S. economy and his administration's trade policies. “They will all come off as soon as we finish Phase 2,” said Mr. Trump, who added that he would visit China in the not-too-distant future.

Source: The Hindu January 15, 2020 22:07 UTC