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| US postpones next tariff hike after China trade talks | US postpones next tariff hike after China trade talks |
| (32 minutes later) | |
| The US has agreed to suspend its next tariff hike on Chinese imports after two days of trade talks in Washington. | The US has agreed to suspend its next tariff hike on Chinese imports after two days of trade talks in Washington. |
| US President Donald Trump said negotiators had reached a "phase one deal" that would include increased agricultural purchases and address financial services and technology theft. | US President Donald Trump said negotiators had reached a "phase one deal" that would include increased agricultural purchases and address financial services and technology theft. |
| China's top negotiator Liu He also said he was "happy" with the progress. | China's top negotiator Liu He also said he was "happy" with the progress. |
| The US was due to raise tariffs on some Chinese goods to 30% next week. | The US was due to raise tariffs on some Chinese goods to 30% next week. |
| US share markets, which had risen on reports of a deal, closed higher, but shed some gains in the final minutes of trade as it became clear any agreement was relatively limited. | |
| 'A deal, pretty much' | 'A deal, pretty much' |
| "We've come to a deal, pretty much, subject to getting it written," Mr Trump said, adding that negotiators would begin discussing additional phases as soon as this set of agreements is put to paper. | "We've come to a deal, pretty much, subject to getting it written," Mr Trump said, adding that negotiators would begin discussing additional phases as soon as this set of agreements is put to paper. |
| Mr Trump said he might sign the deal alongside Chinese President Xi Jinping at a United Nations summit in Chile in December. | Mr Trump said he might sign the deal alongside Chinese President Xi Jinping at a United Nations summit in Chile in December. |
| The US has claimed progress in the past on similar issues, such as increased agricultural purchases and foreign exchange and currency, without the dispute being resolved. | The US has claimed progress in the past on similar issues, such as increased agricultural purchases and foreign exchange and currency, without the dispute being resolved. |
| Another planned tariff hike, in December, remains on the table, said Robert Lighthizer, America's top trade negotiator. | Another planned tariff hike, in December, remains on the table, said Robert Lighthizer, America's top trade negotiator. |
| Lobby group Farmers for Free Trade said the promise of increased agricultural purchases - to $40bn -$50bn, according to Mr Trump - was welcome, but noted that details were scant. | Lobby group Farmers for Free Trade said the promise of increased agricultural purchases - to $40bn -$50bn, according to Mr Trump - was welcome, but noted that details were scant. |
| "While we are pleased that tariffs aren't going up, this agreement seemingly does nothing to address the crippling tariffs farmers currently face," said Brian Kuehl, the group's co-executive director. | "While we are pleased that tariffs aren't going up, this agreement seemingly does nothing to address the crippling tariffs farmers currently face," said Brian Kuehl, the group's co-executive director. |
| "From the very beginning of the trade war, farmers have been promised that their patience would be rewarded. To date, the deal they've been promised has not come." | "From the very beginning of the trade war, farmers have been promised that their patience would be rewarded. To date, the deal they've been promised has not come." |
| Long dispute | |
| The US and China have imposed tariffs on billions of dollars worth of each other's goods over the past 15 months, casting a pall over the global economy. | The US and China have imposed tariffs on billions of dollars worth of each other's goods over the past 15 months, casting a pall over the global economy. |
| The US wants better protection for US intellectual property, and an end to both cyber theft and the forced transfer of technology to Chinese firms. | The US wants better protection for US intellectual property, and an end to both cyber theft and the forced transfer of technology to Chinese firms. |
| It also wants China to reduce industrial subsidies and improve access to Chinese markets to US companies. | It also wants China to reduce industrial subsidies and improve access to Chinese markets to US companies. |
| This week's talks were the first high-level negotiations in more than two months. They kicked off amid a backdrop of renewed tensions, as the US blacklisted 28 Chinese entities over human rights concerns. | This week's talks were the first high-level negotiations in more than two months. They kicked off amid a backdrop of renewed tensions, as the US blacklisted 28 Chinese entities over human rights concerns. |
| Mr Trump said the range of issues under discussion warranted breaking up the negotiations into parts. | Mr Trump said the range of issues under discussion warranted breaking up the negotiations into parts. |
| "It's going to be such a big deal that doing it in sections and phases I think is really better," he said. | "It's going to be such a big deal that doing it in sections and phases I think is really better," he said. |