BREAKING: Trump, China Agree To 'Phase One' Of Potentially Massive Trade Deal

Timothy Meads / Townhall Tipsheet

The White House announced Friday evening that the United States and China have agreed to the first step of a massive trade deal that is seemingly beneficial on both sides. The Wall Street Journal reports that the core part of this initial economic "truce" means that the U.S. will "shelve a planned increase in tariffs on goods imported from China, while Beijing said it would increase purchases of U.S. agricultural products."

"We’ve come to a deal on intellectual property, financial services, a tremendous deal for the farmers—a purchase of from $40 to 50 billion worth of agricultural products," President Trump told reporters from the Oval Office.

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