In process of ending trade war, China to buy goods of $1.2 trillion from U.S.

China has agreed to buy up to $1.2 trillion in goods from the United States as part of the current negotiations to end the trade war between the countries, CNBC reported on Friday, citing sources familiar with the situation.

CNBC said though that the two sides remain far apart on a key issue for the United States: the forced transfer of intellectual property. Negotiators have been meeting in Washington this week, with President Donald Trump scheduled to talk with Chinese Vice Premier Liu He on Friday afternoon, in the hopes of coming closer to a trade deal before March 1, when U.S. tariffs on a variety of goods are set to rise to 25 per cent from 10 per cent.