US will hold off on raising China tariffs to 25% as Trump and Xi agree to a 90-day trade truce

US will hold off on raising China tariffs to 25% as Trump and Xi agree to a 90-day trade truce. By Kevin Breuninger.

Meanwhile, “China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately,” the White House said.

Xi also plans to designate Fentanyl as a controlled substance, according to the statement. As the U.S. opioid crisis continues to rage, it would suggest that people selling the drug to parties in the U.S. would be subject to stiff penalties in China.

Trump winning. None of his immediate predecessors would have won those concessions.