Trump Signs Phase One Deal With China

Yesterday, in a signing ceremony at the White House, President Trump and Chinese Vice Premier Liu He finally signed the “Phase One” deal between the U.S. and China. Per the agreement fact sheet, the Phase One trade deal requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange. The Phase One agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years. Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement.

Text of the full agreement is now available for the first time.

Additionally, the official Federal Register notice has been published that will lower List 4A tariffs from 15 percent to 7.5 percent beginning February 14. This list took effect on September 1, 2019 and covers nearly worth $120 billion in Chinese imports.

For more information, contact Samantha Rocci at srocci@rvia.org.

Photos: AP