WSJ: China and US working on a deal. ZTE Corp sanction reprieve for removing agricultural tariffs

And other deals in the works

The WSJ is reporting that US and China are working on a deal that would trade US sanctions on TE Corp. sanctions for the abolishment of tariffs on US agricultural tariffs. This is according to sources in both countries.

According to the article, the deal would also these roadblocks in China faced by a US semi conductor company QUALCOMM, whose proposed acquisition of NXP semiconductors (Netherlands) has been held up by Beijing.

The tariffs on US agriculture products were put in place by China in early April in retaliation for the US steel and aluminum tariffs. The China tariffs hurt US farmers which is a key for the Republican Party and could endanger the Republicans efforts to keep control of the House and Senate in the midterm elections.

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