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		</div><p>The Trump administration and China are expected to announce a modest trade agreement on Friday that would suspend tariffs that are due to start on Sunday.</p>
<p>A senior administration official said a policy announcement regarding China would take place on Friday. The official spoke on condition of anonymity to discuss internal planning.</p>
<p>A “deal is close,” said Myron Brilliant, the US Chamber of Commerce’s head of international affairs, who has been briefed by both sides.</p>
<p>Mr Brilliant said the administration has agreed to suspend President Donald Trump’s plans to impose tariffs on $160 billion in Chinese imports Sunday and to reduce existing tariffs, though it was not clear by how much.</p>
<p>In return, Beijing would buy more US farm products, increase Americans companies’ access to the Chinese market and tighten protection for intellectual property rights.</p>
<p>The deal awaits final approval from Mr Trump. The president did not comment to reporters on the talks when returning to the White House late on Thursday.</p>
<p>Earlier. he used Twitter to declare: <em>“Getting VERY close to a BIG DEAL with China. They want it, and so do we!”</em></p>
<p>The president’s comments triggered a daylong rally on Wall Street that carried over to Asian trading. The Dow Jones Industrial Average surged 220 points, or 0.8% on Thursday. In Friday trading, Japan’s Nikkei 225 index jumped 2.6% while the Shanghai Composite index advanced 1.5%.</p>
<p>Beijing had threatened to retaliate if Mr Trump proceeds with plans to raise tariffs on $160 billion of Chinese imports on Sunday.</p>
<p>The two sides are negotiating a so-called Phase 1 agreement to help resolve their sprawling trade dispute. Still, the truce appears to leave unsettled the toughest and most complex issues that have divided the sides.</p>
<p>Despite the plans for an announcement, it’s not a done deal, noted Jeffrey Halley, a market with Oanda.</p>
<p>“After such an interminable wait and having being led to water before, I would like to see something official in writing officially. Further to that point, although the in-principle agreement may have been agreed, the legally binding text has yet to be drawn up,” he said.</p>
<p>Since July 2018, the Trump administration has imposed import taxes on $360 billion in Chinese products. Beijing has retaliated by taxing $120 billion in US exports, including soybeans and other farm products that are vital to many of Trump’s supporters in rural America.</p>
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