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| Potential US-China trade deal could remove tariffs | |
| (about 11 hours later) | |
| The US and China have reportedly agreed to roll back tariffs as part of any new trade deal. | The US and China have reportedly agreed to roll back tariffs as part of any new trade deal. |
| The reports come amid rising hopes that the two countries will sign a pact that declares an end to a trade fight that has disrupted the global economy. | The reports come amid rising hopes that the two countries will sign a pact that declares an end to a trade fight that has disrupted the global economy. |
| Officials have described the in-the-works agreement as a partial, "phase one" deal that is unlikely to fully address issues over technology theft that helped launch the fight. | Officials have described the in-the-works agreement as a partial, "phase one" deal that is unlikely to fully address issues over technology theft that helped launch the fight. |
| No signing date has been settled. | No signing date has been settled. |
| The two sides had been expected to present a phase one deal at a gathering of world leaders in Chile before the end of the year, but the country cancelled two summits planned for the coming weeks after domestic protests. | The two sides had been expected to present a phase one deal at a gathering of world leaders in Chile before the end of the year, but the country cancelled two summits planned for the coming weeks after domestic protests. |
| China had been pressing the US to remove tariffs on its goods as part of any deal. | China had been pressing the US to remove tariffs on its goods as part of any deal. |
| A spokesman for its Commerce Ministry said the two sides had agreed to cancel the tariffs "in stages" as the agreement develops. | A spokesman for its Commerce Ministry said the two sides had agreed to cancel the tariffs "in stages" as the agreement develops. |
| On Thursday, Reuters and Bloomberg reported that a US trade official had confirmed that some tariffs would be lifted, should a deal be reached. | On Thursday, Reuters and Bloomberg reported that a US trade official had confirmed that some tariffs would be lifted, should a deal be reached. |
| But US negotiators did not publicly endorse the report and Reuters later reported that the plan faces "fierce" internal opposition. | But US negotiators did not publicly endorse the report and Reuters later reported that the plan faces "fierce" internal opposition. |
| Stock markets gained on the reports, seeing them as a sign that a deal is getting closer. | Stock markets gained on the reports, seeing them as a sign that a deal is getting closer. |
| Global growth | Global growth |
| The US and China have imposed tariffs on each others' goods, worth billions of dollars worth of annual trade since last year. | The US and China have imposed tariffs on each others' goods, worth billions of dollars worth of annual trade since last year. |
| The duties have hurt trade, acting as a drag on the economies of both countries and putting pressure on their leaders to strike an agreement. | The duties have hurt trade, acting as a drag on the economies of both countries and putting pressure on their leaders to strike an agreement. |
| The International Monetary Fund estimates that the US-China trade war will shave almost a percentage point off of global growth this year. | The International Monetary Fund estimates that the US-China trade war will shave almost a percentage point off of global growth this year. |