The US and China reached an essential agreement on all articles of the first-stage trade deal. The agreement will be signed within the next few days. As part of this deal, China undertook an obligation to purchase agricultural products from the US for the total of USD 40.0 billion per year. In its turn, the US Presidential Administration proposed to reject new trade duties in respect of Chinese imports totaling up to USD 160.0 billion, which could have been instituted on 15 December.
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