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Post by bot on Feb 21, 2019 22:45:49 GMT -5
U.S., China start to outline deal to end trade war: report
U.S. and Chinese negotiators have begun to outline a deal to end the trade war between the world's two largest economies, Reuters reported Wednesday night. Citing sources familiar with the ongoing negotiations, Reuters said agreements in principle are being drawn up on six key areas: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade. The report suggested the outline is the most significant progress made so far after months of trade talks. The progress began in earnest last week during talks in Beijing, Reuters reported, and carried on in Washington this week. On Tuesday, President Donald Trump suggested the March 1 deadline before the U.S. raises tariffs again is "not a magical date," and reports said the deadline may be extended, with the potential for a final deal to be signed at a summit between Trump and China's President Xi Jinping next month. Asian stock markets rose following the Reuters report, and Dow Jones Industrial Average futures and S&P 500 futures surged immediately after as well.
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