US and China tiptoe around holes in new trade deal

FILE PHOTO: U.S. President Donald Trump speaks to reporters as he departs for travel to New Orleans, Louisiana from the South Lawn of the White House in Washington, U.S., January 13, 2020. REUTERS/Leah Millis

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.