Article snippet: Trump and his Chinese counterpart Xi Jinping negotiated a trade war truce. Trump agreed to delay raising tariffs on $200 billion worth of Chinese imports to 25 percent in return for Chinese promises to purchase more American agricultural, energy, and industrial exports and reduce the trade deficit. This ceasefire is double victory for Americans. The most obvious winners are the farmers who have seen their export markets dry up as a result of China’s retaliatory tariffs. Soybean farmers, for instance, will see much needed relief from the deal, as the price of soybeans — the on July 6. In addition, countless small businesses selling everything from lobsters to whiskey, whose access to one of the biggest markets in the world has diminished as a result of the trade war, will see their Chinese business boom as a result. American consumers are the other major victors. They avoid facing major price spikes on China-made consumer goods, homewares, and electronics that were set to take place on January 1st. The pain of these price increases on everyday items would have been exacerbated because they would have coincided with millions of consumers trying to pay off their Christmas credit card bills. Small businesses, dealing with one of the slowest months of the year in January, also avoid paying more for inputs that are made in China. Following the G20 meeting, President Trump tweeted that in the wake of the trade agreement, China has agreed to reduce and remove its 40 perc... Link to the full article to read more