After almost two years of tariffs, counter-tariffs, meetings, bad-tempered tweets, and back room manoeuvrings, we may finally be on the brink of the first part of a hoped-for trade deal between the US and China. It wasn’t worth it.

President Donald Trump has signed off on an agreement to de-escalate his conflict with Beijing, people familiar with the matter told Bloomberg News. Discussions will focus on the US reducing tariff rates on Chinese imports by as much as half and delaying pending ones, while Beijing will agree to purchase US farm products and do more on intellectual-property theft, officials said...

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