The
United States has reached a "phase-one" trade deal in principle with
China, a source briefed on talks between the two nations said on Thursday, saying a statement from the
White House was expected soon.
Ahead of the meeting, U.S. Trade Representative Robert Lighthizer told senators that announcements were possibly "imminent" on U.S. tariffs, senior
Republican Senator John Cornyn told reporters.
U.S. negotiators have offered to reduce
tariffs on about $375 billion in Chinese goods by 50% across the board, two people familiar with the negotiations said, and suspend tariffs on $160 billion in goods scheduled to go into effect on Sunday.