Trump says US, China have reached deal; Sunday tariffs off

PAUL WISEMAN and JOE McDONALD AP Business Writers WASHINGTON (AP) — President Donald Trump said Friday that the U.S. has canceled plans to impose new tariffs on $160 billion worth of Chinese imports Sunday as part of a modest interim agreement that de-escalates a 17-month trade war between the world's two biggest economies. The United States is also reducing existing import taxes on about $112 billion in Chinese goods from 15% to 7.5% In return, Trump said on Twitter, the Chinese have agreed to "massive'' purchases of American farm and manufactured products as part of a so-called Phase 1 deal. The office of Trump's trade representative said China had consented to "structural reforms'' that would improve intellectual property protection and curb the practice of forcing foreign compan