The US has reached a new trade agreement with China under which all Chinese imports will face a 55% tariff, while American exports to China will be subject to a reduced 10% tariff. This was the result of two days of talks between diplomats from the two nations in London.

President Donald Trump and officials from China announced that they have agreed on a framework for a trade deal between the two major economic powers.

U.S. and Chinese trade teams appeared to make modest progress a month before paused monster tariffs are due to resume, but Trump says a deal "is done."