The move will calm tensions that have roiled economic relations between the world's two largest economies for nearly two years.
President Donald Trump has signed off on a mini-trade deal with China, two people familiar with the negotiations said on Thursday, marking another trade victory he can tout as he faces impeachment led by House Democrats.
In exchange, Trump will cancel a 15 percent tariff that was scheduled for Sunday, people briefed on the matter said. The president is also expected to reduce duty rates already in place on about $250 billion worth of goods, including many consumer items such as footwear, clothing and flat panel TVs. Three people briefed on the talks said Trump was partially swayed to close a deal by a Chinese offer to purchase $200 billion worth of U.S. goods and services over a period of two years. That includes a previous demand to boost imports of U.S. farm goods to between $40 billion and $50 billion within the same period. The U.S. had made that demand as far back as May 2018.
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