The move comes as the two countries prepare to sign a “phase one deal” sometime this month.
Reuters reports that an official has said that the U.S. is expected to roll back $112 billion worth of tariffs on Chinese goods imposed in September.
In return, China will be expected to purchase more goods from U.S. farmers and provide better protection for intellectual property.
The high stakes trade war was initially caused by a dispute over IP theft over a year ago.
The deal is expected to bring relief to the global economy, which the dispute has affected for the past 15 months.
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