China is cautiously optimistic about an agreement to start dialing down a trade war that it blames the U.S. for starting. Chinese experts and news media said the deal would reduce uncertainty for companies and lay the foundation for further talks.
FILE - In this Sept. 29, 2019, file photo, a man eats a snack while passing an "I love China" decoration at a popular shopping mall in Beijing. China is putting a positive face on an agreement to start dialing down a trade war that it blames the U.S. for starting. Chinese experts and news media said Saturday that the deal would reduce uncertainty for companies and lay the foundation for further talks.
Chinese experts and news media joined government officials in saying the deal would reduce uncertainty for companies, at least in the short term. They remained cautious, saying both sides will have to show a willingness to compromise to resolve the more fundamental differences between them. At a late night news conference in Beijing, timed to coincide with the U.S. morning, the officials said the United States would begin phasing out tariffs on Chinese imports, rather than continue to raise them. The deal was announced just two days before higher tariffs were set to kick in. China would make similar tariff cuts, the officials said, but they gave no details.
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