Article snippet: MORE is touting an initial deal with China as a major victory for his trade agenda despite growing skepticism over the scope and status of the agreement. The pending deal outlined Friday would postpone an upcoming increase of tariffs on Chinese goods in exchange for Beijing drastically increasing imports of American crops. The agreement is meant to provide a brief economic reprieve for both nations as they seek out a broader deal. Trump has been quick to boast about scoring a major victory for “great patriot farmers & ranchers.” The president tweeted that a “Phase One” deal with China can be “finalized & signed soon” during a potential November meeting with Chinese President Xi Jinping. But Washington and Wall Street are reacting with caution to the announcement, following signals from Beijing that it still needs time to finalize the terms and amid criticism that the limited agreement does not touch on many of Trump’s top priorities for a broader trade deal. The trade pact, announced Friday, would freeze a planned increase of tariffs on $250 billion in Chinese goods from 25 percent to 30 percent. But it doesn’t address another round of tariffs on $160 billion in Chinese-made consumer goods scheduled for December. “The Chinese don’t want Xi to move forward with this initial phase or this initial detente if they don’t get rid of the December tariff threat as well,” said Stephen Myrow, managing partner at Beacon Policy Advisors. “No matter what they sign, th... Link to the full article to read more