December 2, 2018 / 2:29 AM / 10 months ago

China says U.S. agrees not to raise tariffs on January 1

FILE PHOTO: Chinese Vice Commerce Minister and Deputy China International Trade Representative Wang Shouwen speaks at the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 25, 2018. REUTERS/Jason Lee

BUENOS AIRES (Reuters) - China’s Vice Commerce Minister Wang Shouwen said on Saturday the United States had revoked a plan to raise tariffs on certain Chinese goods to 25 percent on Jan. 1, following a meeting between U.S. President Donald Trump and Chinese President Xi Jinping.

China and the United States also decided to not impose new tariffs on other products, Wang said after the meeting, which took place on the sidelines of a G20 summit in Buenos Aires.

Reporting by Michael Martina; Writing by John Ruwitch

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