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    possible trade deal | Photo: Reuters

Published 12 December 2019

U.S. negotiators have offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board.

After months of uncertainty, there is some certainty that the U.S and China reached a “phase-one” trade deal in principle, and therefore, a statement from the White House is expected soon.

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Trump was scheduled to huddle with his top trade advisers this Thursday. Ahead of the meeting, U.S. Trade Representative Robert Lighthizer told senators that announcements were possibly “imminent” on U.S. tariffs, senior Republican Senator John Cornyn told reporters.

News Agency Reuters reported that U.S. negotiators have offered to reduce tariffs on about $375 billion in Chinese goods by 50% across the board, two people familiar with the negotiations said, and suspend tariffs on $160 billion in goods scheduled to go into effect on Sunday.

It seems that Trump is an optimist about the agreement with China, in opposition to what had been reported that a trade deal between both nations may have to wait until after the U.S. presidential election in November 2020.

He tweeted that the U.S. has moved close to a trade deal with Beijing after several false starts and near misses.

The White House tariff offer to Beijing, first reported in The Wall Street Journal on Thursday, came last week and may have changed since.

Washington and Beijing have been waging a trade war since June 2018, when U.S. President Donald Trump announced the application of tariffs to $ 50 billion in products from the Asian giant, with the aim of balancing the negative trade balance for his country.

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