Asia

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

U.S. President Donald Trump (right) and Chinese Vice Premier Liu He sign trade documents at the White House. / Getty / Kyodo

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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.