US, China outline deal to end trade war: Report – Fox Business

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US, China outline deal to end trade war: Report – Fox Business

Negotiators may be close to coming up with a deal that will end the trade sanctions between the U.S. and China.

It is considered the most significant progress yet toward ending a seven-month trade war, according to report from Reuters.

High level talks are being held Thursday and Friday in Washington.

Reuters reports the broad outline of what could make up a deal is beginning to emerge from the talks.

The two sides are pushing for an agreement by Mar. 1.

On that day, a 90-day truce would end that President Trump and Chinese President Xi Jinping agreed to when they met in Argentina late last year.

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President Trump said on Tuesday that talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying Mar. 1 was not a “magical” date.

Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, according to two sources reported by Reuters.

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