China Prepares Trade Deal for Trump to Avoid Tariffs, WSJ Says
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China has prepared an initial proposal for trade talks with the Trump administration that will include a renewed pledge not to devalue the yuan to support its exports, according to the Wall Street Journal.
An offer being discussed in Beijing as part of its effort to prepare for negotiations will center on restoring a trade agreement known as the Phase One deal, which China signed with the US in early 2020 but didn’t implement, the newspaper reported, citing unnamed people familiar with the deliberations. The offshore yuan trimmed losses after the story’s publication.