Un­der what the coun­tries call “phase one” of the agree­ment, the U.S. would can­cel plans to im­pose new tar­iffs on $156 bil­lion in an­nual im­ports of cell­phones, toys and other prod­ucts on Sun­day and would also re­duce the tar­iff rate on a pre­vi­ous tranche of roughly $120 bil­lion of goods to 7.5%, down from 15%, U.S. of­fi­cials said in a state­ment.

The Wall Street Journal

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