President Donald Trump has told reporters on Air Force One that a trade deal brokered with China is one of the largest ever made.
After meeting at the G-20 summit in Argentina, Trump and Chinese President Xi Jinping have agreed a temporary stop to their bilateral trade disagreement, striking a deal to hold off on any additional tariffs on each other's goods after January 1.
"It's an incredible deal. It goes down, certainly, if it happens, it goes down as one of the largest deals ever made," Trump said Sunday while en route to Joint Base Andrews in Maryland.
"It'll have an incredibly positive impact on farming, meaning agriculture, industrial products, computers, every type of product," he added.
The U.S. government had threatened to more than double the tariffs it has already placed on $250 billion worth of Chinese imports, while Xi's government has put targeted tariffs on $110 billion in U.S. goods.
"What I'd be doing is holding back on tariffs. China will be opening up. China will be getting rid of tariffs. You know, China right now has major trade barriers — they're major tariffs — and also major non-tariff barriers, which are brutal," Trump added.
As per an earlier statement, the U.S. leader also said China would now look to buy a "tremendous amount of agricultural and other products," in a bid to address the one way flow of trade.
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