President Donald Trump confirmed Friday he is canceling new tariffs on China, that had been due to kick in at the end of this week, as part of a “phase one” trade deal.
The tariffs “will not be charged because of the fact that we made the deal,” he tweeted after Beijing first announced a breakthrough in the US-China trade war.
Trump said that existing tariffs of 25 percent on $250 billion of Chinese imports will stay in place pending further negotiations on a second phase deal, along with 7.5 percent tariffs on another $120 billion of imports.
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