US suspends tariff hike in limited China deal

They were set up go up next week

US suspends tariff hike in limited China deal
Trump's tariffs on $250 billion in Chinese imports were set to rise from 25% to 30%. (Source: CNN)

The United States is suspending a tariff hike on $250 billion in Chinese imports that was set to take effect Tuesday, and China agreed to buy $40 billion to $50 billion in U.S. farm products as the world's two biggest economies reached a cease-fire in their 15-month trade war.

The two countries are leaving the thornier issues — including U.S. allegations that China forces foreign countries to hand over trade secrets in return for access to the Chinese market — until later negotiations.

The tariffs on $250 billion in Chinese imports were set to rise from 25% to 30%.

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