US and China sign trade deal

US and China sign trade deal

Agency News

Easing a trade war, the US and China have signed an agreement on Thursday.

The agreement aims to douse the fire of fears in which the global markets were rattled. US President Donald Trump announced the news about the signing of the agreement. He said the pact would be "transformative" for the US economy.

Chinese leaders called it a "win-win" deal that would help foster better relations between the two countries. China has pledged to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules.

In exchange, the US has agreed to halve some of the new tariffs it has imposed on Chinese products.