WASHINGTON: The United States and China signed an initial trade deal on Wednesday that will roll back some tariffs and boost Chinese purchases of U.S. products, defusing an 18-month row between the world's two largest economies but leaving a number of sore spots unresolved.
Beijing and Washington touted the "Phase 1" agreement as a step forward after months of start-and-stop talks, and investors greeted the news with relief. Even so, there was skepticism the U.S.-China trade relationship was now firmly on the mend.
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