U.S. President Donald Trump announced 31st December 2019 that he will be signing the U.S. – China Phase One trade deal on 15th January 2020 in Washington. The deal, is expected to reduce tensions between the two countries.
The U.S. president said, the treaty would be signed in Washington in the presence of ‘high level representatives’ from China.
In a tweet the President also said, ‘At a later date I will be going to Beijing where talks will begin on Phase Two!’
Mr Trump recently called off plans for tariff increases on Chinese goods, citing progress on the Phase One deal
Mr Trump previously said he wanted to see a wide-ranging agreement, which he would sign with China’s President Xi Jinping.
How comprehensive?
The exact detail and content of the agreement has not been shared publicly yet, but earlier this month both sides said China had agreed to increase purchases of U.S. agricultural products and boost intellectual property protections, while the U.S. rolled back some tariffs.
It has been reported the U.S. has left some of its biggest issues, such as China’s subsidies for certain firms, for further discussions. But Trump’s tweet referred to a ‘comprehensive’ deal.
We will soon be able see the detail of the Phase One deal.