U.S. China negotiations update
Discussions continue on the “phase-one” trade agreement between the U.S. and China. In October, the two countries reached an interim agreement that delayed planned U.S. Oct. 15 and Dec. 15 tariff increases. In turn, China agreed to increased agricultural purchases, the elimination of foreign ownership requirements and some intellectual property concessions. Since then, China has said that removing, rather than postponing, tariffs is a condition to any deal. President Trump threatened to increase tariffs unless China and the U.S. reach a deal.