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Trade war fears ebb as US, China continue to work on wider trade agreement

China's government praised the cooling of trade tensions with the United States, saying agreement was in both nations' interests

Ben Blanchard Michael Martina & Susan Heavey | Reuters  |  BEIJING/WASHINGTON 

Washington and Beijing both claimed victory on Monday as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost US exports to China. Over the weekend, the two sides pledged to keep talking about how China could import more energy and agricultural commodities from the United States so as to narrow the Rs 335 billion annual US goods and services trade deficit with China, although details and a firm timeline were thin. The biggest immediate beneficiary appeared to be China, which won a reprieve from ...

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First Published: Tue, May 22 2018. 06:49 IST