U.S. and China put trade war ‘on hold’

Steven Mnuchin, US Treasury secretary, says negotiations over tariffs with China have borne fruit.

America has pulled back from launching a trade war with China that could have destabilised the global economy, by agreeing to put proposed tariffs on Chinese imports “on hold”.

The Treasury secretary, Steven Mnuchin, said on Sunday that negotiations with Chinese officials have borne fruit, meaning Washington and Beijing can step back from imposing punishing tariffs on each other’s exports.

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