Trump announces ’phase one’ of trade deal with China

Trump announces ’phase one’ of trade deal with China

President Trump said Friday the US and China have reached a ’substantial phase one deal’. Negotiators from the two nations are drafting a truce in which China will buy $40-$50 billion in U.S. farm products in exchange for tariff relief. In exchange, Trump has decided not to increase levies from 25 per cent to 30 per cent on $250 billion worth of Chinese goods.

Kathy
Kathy
Brandon Spears
Brandon Spears 5 months

Ok so if you're curious what Phase 1 is, here is a direct quote on what it is (link of quote at the bottom): Mr. Trump, speaking from the Oval Office, said negotiators had reached a “Phase 1” agreement that would take several weeks to write and that both sides could officially sign by November. If completed, the agreement would provide relief to American farmers and businesses that have been battered by the trade war. Mr. Trump said the “substantial” agreement would involve China buying $40 billion to $50 billion worth of American agricultural products annually, along with guidelines on how it manages its currency, the renminbi. It would also strengthen Chinese protections for American intellectual property and give financial services companies more access to China’s market, the president said. In exchange, the United States will not move ahead next week with plans to raise tariffs on $250 billion worth of Chinese goods to 30 percent. The president has not made a final decision on whether to impose an additional round of tariffs on Dec. 15, as he has threatened. https://www.nytimes.com/2019/10/11/business/economy/us-china-trade-deal.html?module=inline

Andrew 1010
Andrew 1010 5 months

Hope you've kept the interests of the American People with this deal. We'll see how it goes.

ardurren
ardurren 5 months

with everything that's going on in the world right now I have a strong suspicion that this may be a calm before the storm. everyone is busy with their own bs, EU falling apart, Brexit getting denied, american corporations getting roasted for chinese loyalty.. hong kong... the south china sea.. the endless possibilities of the new 5g networks going up, and if what I hear is right the weather is beating down whole chunks of the western world. this would be a good time for china to strike. good as any I'd say... without waiting another 10 or 20 yrs. with their business siphoning under attack by trump and who knows next.. I doubt they wait long

Seekster
Seekster 5 months

I look forward to reading the details of this deal.

porcus
porcus 5 months

I won't believe it until it's signed.

david dindu
david dindu 5 months

phase 2: investigate biden

Miles O'Brien
Miles O'Brien 5 months

Phase 2 is complete capitulation to all of China's demands while dropping any American ones. We Won! Trump will declare.

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