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What does Phase 1 of US-China deal mean: 5 key takeaways

Trade deal Phase 1

Trade deal Phase 1

US President Donald Trump and Chinese officials have agreed to a “phase one” trade deal that includes cutting US tariffs on Chinese goods.

Washington has agreed to suspend tariffs on $160 billion in Chinese goods due to go into effect on Dec. 15, Trump said, and cut existing tariffs to 7.5%.

Here are the key takeaways:

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