Transcript for US and China agree to cancel tariff hikes
Breaking news overnight the US and China agreed to cancel tariff hikes is trade talks between the two countries' progress according to a Chinese official. The Chinese commerce ministry spokesman says the tariffs will be phased out depending on how the negotiations go. If a phase one agreement is reached already imposed tariffs will be canceled proportionately. Both countries have imposed billions of dollars worth of tariffs on exports. And this trade war last month president trump in China's president agreed to resume talks and halt further hikes.
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