United States and China appear close to a deal

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The United States and China appear close to a deal that would roll back US tariffs on at least $200bn worth of Chinese goods as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on American goods.

US President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries.

In an eight-month trade war, the US has imposed punitive tariffs on $250bn worth of imports from China, while Beijing has hit back with tariffs on $110bn worth of US goods, including soybeans and other commodities.

The actions have roiled financial markets, disrupted manufacturing supply chains, and reduced US farm exports.

Trump administration officials have said they expect the two presidents to “close” a deal at a summit in coming weeks at Trump’s Mar-a-Lago estate in Florida.

ALJAZEERA/CHISOM