Phase one of trade deal with China to be signed January 15th
Donald Trump just officially confirmed his biggest victory yet in the ongoing trade war with China. It has just been announced that “phase one” of a massive trade deal with China will be signed by mid-January.
Trump tweeted on Tuesday that “I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15. The ceremony will take place at the White House. High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!”
This agreement is the culmination of a year-long trade scuffle with the Asian giant. Trump initially placed major tariffs on billions of dollars worth of Chinese goods in January, to which the Chinese government responded in kind.
Throughout the year, Trump has negotiated with the Chinese government, gaining little headway until recent weeks.
Now, according to the White House, the signing of phase one of the trade deal will include “Chinese commitments to purchase American goods, financial service reform, currency reform, intellectual property rights, and reform of the Chinese forced transfer of technology.”
Additional provisions of the deal include enforcement options. Breitbart reports that a senior administration official confirmed that “If we decide that China has violated a provision of the agreement, we can take responsive action and/or suspend concessions under the agreement. It could take the form of tariffs but we have the ability to take that action if they’re not abiding by their commitments.”