The two sides agreed to halt additional tariffs on almost $160 billion of Chinese consumer electronics and toys that were set to take effect December 15.China on Sunday called off additional tariffs set to kick in on some US goods as the two countries pull back from a trade war that has roiled financial markets and damaged global economies.
The announcement comes two days after China and the United States agreed to a phase 1 trade deal after more than 18 months of escalating tensions. The two sides agreed to halt additional tariffs on almost $160 billion of Chinese consumer electronics and toys that were set to take effect December 15 and reduce economic penalties on goods that were imposed in September by half. They also unveiled new commitments by the Chinese to buy US farm goods and other products.