“Very Close to a Big Deal,” Says Trump after a Report of Tariffs Exemption on Dec. 15

On Thursday, 12 December 2019, the U.S. has reached an agreement with China and agreed to suspend the tariffs expected to be imposed on this Sunday.

The White House had yet to release a statement, but the source said that the U.S. had agreed on the exemption of imposing import tariffs worth $160 billion on Chinese products as well as a rollback on some earlier tariffs in exchange of a promise to buy $50 billion worth of U.S. agricultural products in 2020.

“Getting VERY close to a BIG DEAL with China. They want it, and so do we!” tweeted the U.S. President Donald Trump yesterday.

However, investors are still looking for an official statement from the White House to confirm that both sides had actually agreed on the terms.