President Trump has announced when he will sign the Phase One trade deal with China. He tweeted earlier this week that he will sign the deal with China on January 15th, making the agreement between the two largest economies official. Under the agreement, China will purchase more American Ag products, and the U.S. will lower tariffs on imports bound for the U.S.
“The ceremony will take place at the White House,” Trump says on Twitter. “High-level representatives of China will be present.”
In addition to the Ag purchases, China agreed to new commitments on intellectual property protections, forced technology transfers from U.S. companies, as well as new currency practices. Bloomberg says the deal will calm some of the fears that the trade war between the nations would continue long term.
The president also says he’ll be traveling to Beijing at a later date to begin Phase Two negotiations. The precise details of the agreement haven’t been released to the public yet. U.S. Trade Representative Robert Lighthizer said the details will come out when it’s officially signed by both countries.
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