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U.S., China agree to phase one of trade deal

President Trump has reportedly signed off on phase one of the trade deal with China. The tariffs scheduled to go into effect December 15th reportedly will be delayed, but other details have to be ironed out, including potential actions on existing duties.

EARLIER: Bloomberg News says the U.S. and China have agreed in principle to phase one of a comprehensive trade deal.

Earlier Thursday, the Wall Street Journal said a deal could be close, following a Tweet by President Trump and reports the U.S. would be willing to delay the December 15th tariffs and reduce existing duties.

If the deal isn’t signed by Sunday, the new tariffs would go into effect and the old tariffs would remain at current levels.