US, China Sign ‘Phase One’ Deal for Truce in Bruising Trade War

By Kyodo News 16 January 2020

WASHINGTON—The United States and China formally reached a truce in their two-year trade war on Wednesday, signing a deal that will lead to a rollback of some US tariffs and require China to boost purchases of farm and other products.

“Today we take a momentous step…toward a future of fair and reciprocal trade,” US President Donald Trump said in a signing ceremony at the White House for the so-called phase one deal, emphasizing that it will also address various concerns over Chinese trade practices that have put US firms at a disadvantage.


You may also like these stories:

China Denies Ever Manipulating Currency After US Lifts Designation

Chinese President Xi Jinping’s Myanmar Trip Aimed at Pushing Beijing’s ‘Two-Ocean’ Strategy

Japan, China to Craft New Political Document for Xi’s State Visit