China Signing a Trade Deal with USA in Washington Next Week

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China Signing a Trade Deal with USA in Washington Next Week

China Signing a Trade Deal with USA in Washington Next Week

Chinese vice-premier Liu He, head of the state’s leadership team in Sino-US trade talks, will be signing a Phase 1 deal next week in Washington, the Ministry of Commerce said as much on Thursday.

On January 13-15, Liu will visit Washington, replied Gao Feng, a trade ministry spokesman.

Trying to negotiate teams between both ends remain in close correspondence on the specific signing contracts, Gao said at a regular briefing to news anchors.

US President Donald Trump announced here on 31 December that the White House will ink the Phase 1 agreement toward China on 15 January. Trump said that he would sign the agreement with China’s high-level officials and then fly to Beijing to launch the next stage of negotiations.

It is estimated that the Phase 1 agreement signed last month would slash tariffs and raise Chinese imports of U.S. livestock, oil and agricultural products while settling certain copyright and trademark conflicts.

But still, no variant of the text has also been publicized, and important points such as improved imports of US products and services by $200 billion over two years still have to be publicly committed by Chinese authorities.

Per year and a half ago, that United States began a trade war against China amid claims of illegal market policies, such as infringement of U.S. property rights and incentives that unlawfully favour nation-owned Chinese manufacturers.