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US President Donald Trump and Chinese Vice Premier Liu He are scheduled to sign an initial trade deal in Washington DC on Wednesday, January 14. The initiative represents a truce in the dispute between the world’s largest economies in the so-called trade war. To secure it, Trump agreed to suspend a planned December tariff of about $162 billion (€145 billion) in Chinese goods and cut in half an existing 15 per cent levy on imports worth an additional $110 billion (€98 billion). The trade war began at the start of 2018 when Trump ordered the first round of tariffs on Chinese products. Around two-thirds of all Chinese-made products bought in America are now subject to tariffs, as compared to less than 1 per cent prior to the dispute.
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