U.S.-China trade deal cuts tariffs for Beijing promise of big farm purchases

WASHINGTON/BEIJING (Reuters) - The United States and China cooled their trade war on Friday, announcing a "Phase one" agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.Beijing has agreed to import at least $200 billion (£155.88 billion) in additional U.S. goods and services over the next two years on top of the amount it purchased in 2017, the top U.S. trade negotiator said..