The US and China have agreed on Friday to suspend a new round of tariffs that they had planned to impose on each other on 15 December.
US will lower tariffs to 7.5% from 15% on $120bn worth of goods, according to both President Donald Trump and the US Trade Representative (USTR). The US imposed those tariffs on 1 September as part 1 in the fourth round of tariffs. The suspension of the planned 15 December tariffs brings some relief to the US and Chinese manufacturing and chemical sectors, which have been weighed down by the trade war.
