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Trump: ‘Big Progress Being Made’ in China Trade Negotiations

President Donald Trump announced on Saturday that he had a “very good call” with Chinese President Xi Jinping regarding progress on a comprehensive trade deal.

Should a deal be made, it could bring an end to what has been a back-and-forth trade war that has lasted for months.

After campaigning on a platform to end China’s “unfair” trade practices with the U.S., Trump has gone on to tax billions of dollars worth of Chinese goods.

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The U.S. slapped the Communist country with a 25 percent punitive tariff on $50 billion worth of their imports in June.

The president upped the ante September, imposing a 10 percent levy on $200 billion worth of Chinese goods.

Trump threatened to go even further, announcing his administration was ready to hike the tariff rate to 25 percent.

However, during a G-20 summit in Buenos Aires, Argentina in early December, Trump and Xi reached an agreement, with the Chinese president submitting to a number of concessions in return for Trump agreeing to postpone the tariff hike.

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In return, Trump is postponing the tariff hike for 90 days, giving U.S. and Chinese negotiators time to reach a permanent deal.

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