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US-China 'phase one' trade deal to be signed January 15
by Staff Writers
Washington (AFP) Dec 31, 2019

A partial new US-China trade agreement will be signed in the middle of next month, US President Donald Trump said Tuesday, announcing that he will also then travel to China for continued talks.

"I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15," Trump tweeted moments before Wall Street was due to open.

"The ceremony will take place at the White House. High level representatives of China will be present."

Trump said he would then travel to Beijing to continue negotiations "at a later date."

Word of the deal, and the de-escalation of the trade conflict, has driven a Wall Street rally this month but US stocks were lower at the open early Tuesday.

The two sides earlier this month announced a "Phase One" deal in their nearly two-year trade confrontation, with Washington canceling and reducing some tariffs in exchange for Chinese pledges to increase purchases of US exports and adopt trade reforms.

The text of the agreement has not yet been made public pending legal and translation reviews, US officials say, and details remain scant.

US and Chinese officials said the agreement includes protections for intellectual property, food and farm goods, financial services and foreign exchange, and a provision for dispute resolution.


Related Links
Global Trade News


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TRADE WARS
Road to riches for China's rag trade runs through Paris
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"Made in China" may still evoke more off the rack than catwalk, but Chinese designers are slowly installing themselves in Paris, the fashion capital, as a part of an upscale march towards the lucrative luxury market, a segment that is increasingly made up of Chinese shoppers. As Paris gears up for its next run of shows early in the new year, it is clear that Chinese designers have made it into the rarefied world of fashion. Think Guo Pei, the Chinese-born and trained couturier best known for the ... read more

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