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US, China agree on trade deal that involves US tariff concessions

This combined file photo shows U.S. President Donald Trump, left, and Chinese President Xi Jinping. (Kyodo)

WASHINGTON (Kyodo) -- U.S. President Donald Trump said Friday that he has agreed to a partial trade deal with China that includes alleviating existing punitive tariff rates imposed on some Chinese goods and cancelling new tariffs.

    "We have agreed to a very large Phase One Deal with China...This is an amazing deal for all," Trump tweeted, adding that China has also agreed to "many structural changes" and "massive purchases" of agricultural products, energy and more.

    The latest development followed weeks of apparent skirmishes over the details of the so-called phase-one deal between the two countries to bring a temporary truce in the tit-for-tat tariff war that has played out for more than a year.

    Trump also said he expects "phase two" negotiations to start "immediately," without waiting for the outcome of the U.S. presidential election next November.

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