U.S.-China trade deal swaps tariff rollbacks for farm, energy 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 increased Chinese purchases of American farm products and other goods.Beijing has agreed to buy $32 billion in additional agricultural goods over the next two years, U.S. officials said, from a baseline of $24 billion purchased in 2017, before the trade war started. China would also ramp-up purchases of U.S. manufactured..