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Trump says U.S.-China trade deal will be signed on January 15

Published 12/31/2019, 11:14 AM
© Reuters. FILE PHOTO: G20 leaders summit in Buenos Aires

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that Phase 1 of trade deal with China would be signed on Jan. 15 at the White House, though considerable confusion remains about the details of the agreement.

The president wrote in a tweet that he would sign the deal with "high level representatives of China" and that he would later travel to Beijing to begin talks on the next phase.

Last week, Trump said he and Chinese President Xi Jinping would host a signing ceremony to ink the Phase 1 deal.

The Phase 1 deal, struck earlier this month, is expected to reduce tariffs and boost Chinese purchases of American farm, energy and manufactured goods while addressing some disputes over intellectual property.

However, no version of the text has been made public, and Chinese officials have yet to publicly commit to key planks, such as increasing imports of U.S. goods and services by $200 billion over two years.

China bought $130 billion in U.S. goods in 2017, before the trade war began, and $56 billion in services, U.S. data show.

The United States launched a trade war against Beijing a year and half ago over allegations of unfair trade practices, such as theft of U.S. intellectual property and subsidies that unfairly benefit Chinese state-owned companies.

The United States Trade Representative said the Phase 1 deal includes stronger Chinese legal protections for patents, trademarks, copyrights, including improved criminal and civil procedures to combat online infringement, pirated and counterfeit goods.

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Issues such as industrial subsidies would be addressed in a later deal, U.S. authorities said.

The escalating tit-for-tat tariffs, which began in July, 2018, have roiled markets and crimped economic growth worldwide.

Though it was not immediately clear who would represent the Chinese delegation at the signing, the South China Morning Post reported on Monday that Vice Premier Liu He would visit Washington to sign the deal.

Asked Tuesday when the deal might be signed, China's foreign ministry spokesman referred questions to China's Department of Commerce.

Latest comments

By the way how much China intends to buy our Agri? Just curious. Why until now no detail of the deal........how come sources cant get any clue on the amount?
Was ANY DEAL at all discussed with previous admin. ? Was that a "no" ?
Market might move a little. It's the second phase agreement that will move the Market much.
Tarriffs go up if they lish out. It HELPS us get the level playing field. Not the best solution but it's working with competition against China. I'm in !
Phase 2 of market manipulation and pumping to start at a later time.
No clue -
And it's the greatest event since the moon landing. The deal is of epic proportions and it's beyond fantastic is tremendous. heard it from a little birdie
I hope that is meant to be sarcastic...
Better be sarcasm but it is true. You shall see. Oh I gave you a thumbs up cuz of it. Figure the rest. Which previous administration did ANYTHING about the congress problem?
Ha ha keep showing the carrot since a year...
Which previous admin. was it that did Anything ???
hope, the gold lower after make a deal
dollar mid-day go lower cuz of trade deal but this will help us.
may go... sorry
And consider junk silver if you have room. Spendable sizes. Gold- done a lot lately. Silver hasn't cought up.
Wasn't it reported yesterday that Liu was coming to the U.S. this week to sign the phase one deal?
The embassy in Iraq is under siege. We need a diversion! Oh yeah! Trade optimism!
You mock American lives? You sicken the discussion -
Got to love the timing of these tweets lol
Metals fly? Hope so
Chinese pogs fly
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