The U.S. and China have reportedly reached a partial trade agreement that could help lead to a truce and lay the groundwork for a broader deal.
The U.S. and China reached a partial trade agreement Friday that could help lead to a truce in their trade war and lay the groundwork for a broader deal, said a Bloomberg News report citing unnamed sources. The partial deal calls for China to agree to some agricultural concessions and for the U.S. to offer some relief on tariffs, added the report, which also described the pact as tentative. U.S.
-China trade talks this week have come amid expectations about a "mini-deal" that would potentially involve concessions ahead of a larger agreement, such as China offering to buy more American agricultural products or the U.S. pulling back on tariffs. U.S. stocks SPX, +1.77% DJIA, +1.86% have been trading sharply higher Friday, with analysts giving credit to optimism over the trade negotiations.
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