The deal is done, but the work’s not over.
President Trump and Chinese Vice Premier Liu He on Wednesday signed the phase one trade deal between U.S. and China, a formal gesture toward deescalating the trade war that simmered for more than a year and ratcheted up tariffs on some key fashion imports from China.
The agreement envisions China spending more than $200 billion over the next few years on American goods, including in the areas of agriculture and energy, and implementing stronger intellectual property protections for American companies that have complained about Chinese counterfeits and forced technology transfers, Trump said at the signing ceremony at the White House. Under the deal, China agrees on steps involving the “protection of American ideas, trade secrets, patents and trademarks,” he said.
“Together, we are righting the wrongs of the past, and delivering a future of economic justice and certainty for American workers and farmers,” Trump said.
The truce was initially struck on Dec. 13, just two days before a new round of tariffs on Chinese imports were set to go into effect. The deal also eases tariffs that went into effect September on some apparel and goods important to the fashion industry, with the duties cut
President Trump and Chinese Vice Premier Liu He on Wednesday signed the phase one trade deal between U.S. and China, a formal gesture toward deescalating the trade war that simmered for more than a year and ratcheted up tariffs on some key fashion imports from China.
The agreement envisions China spending more than $200 billion over the next few years on American goods, including in the areas of agriculture and energy, and implementing stronger intellectual property protections for American companies that have complained about Chinese counterfeits and forced technology transfers, Trump said at the signing ceremony at the White House. Under the deal, China agrees on steps involving the “protection of American ideas, trade secrets, patents and trademarks,” he said.
“Together, we are righting the wrongs of the past, and delivering a future of economic justice and certainty for American workers and farmers,” Trump said.
The truce was initially struck on Dec. 13, just two days before a new round of tariffs on Chinese imports were set to go into effect. The deal also eases tariffs that went into effect September on some apparel and goods important to the fashion industry, with the duties cut
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