(CNBC) China and the U.S. announced Friday they have reached a phase one trade deal including some tariff relief, increased agricultural purchases and structural change to intellectual property and technology issues.
Some details of the partial accord, which the world’s two largest economies will now move toward signing as they aim to rein in a boiling trade war, appeared murky. As Chinese officials briefed reporters on the details of the agreement Friday morning, President Donald Trump also announced terms of what he called an “amazing deal.”
Major U.S. stock indexes initially jumped following news of the deal but later gave up those gains.
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