Chinese media try to temper hopes about US tariff truce

October 15, 2019 - 12:22 am

BEIJING (AP) — A truce in a U.S.-Chinese tariff war and Beijing's promises to open more of its state-dominated economy are raising hopes among investors. But China's own state media are trying to temper expectations, while companies express frustration about the halting pace of market opening.

The China Daily, an English-language newspaper aimed at foreign readers, warned Tuesday the two sides have yet to put last week's agreement on paper after President Donald Trump suspended a planned tariff hike. In exchange, Trump said Beijing would buy up to $50 billion of American farm goods, a pledge China has yet to confirm.

The newspaper said, "There is always the possibility that Washington may decide to cancel the deal if it thinks that doing so will better serve its interests."