China and the US have agreed to remove some tariffs, according to Beijing, in a sign that the world’s two biggest economic powers may be moving closer to reaching a trade war truce.
A Chinese commerce ministry spokesman said negotiators for both sides had agreed to remove some tariffs “in phases”, raising hopes President Donald Trump and President Xi Jinping would be able to sign an agreement this year.
US and Chinese officials have been trying for most of this year to strike a deal to end — or at least pause — the 20-month trade war. They have been working towards what Mr Trump called a “phase one” agreement for the two presidents to sign at the Asia-Pacific Economic Cooperation summit in Chile on November 17. But those plans were disrupted by the cancellation of the meeting due to the civil unrest in Santiago.