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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.

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Topics: agreement, China, deal, farm goods, phase one, purchases, Tariffs, Trade, Trade War, truce, United States, US

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