WASHINGTON, Dec 15 (Reuters) – The “phase one” U.S.-China trade deal reached on Friday is “totally done” despite the need for translation and it will nearly double U.S. exports to China over the next two years, U.S. Trade Representative Robert Lighthizer said on Sunday.
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Lighthizer, speaking on CBS’ “Face the Nation” program, said there would be some routine “scrubs” to the text but “this is totally done, absolutely.” (Reporting by David Lawder Editing by Nick Zieminski)
The deal, announced on 13 December after more than 2 1/2 years of on-and-off negotiations between Washington and Beijing, will reduce some US tariffs on Chinese goods in exchange for increased Chinese purchases of US agricultural, manufactured and energy products by some US$200 billion over the next 2 years.
China has also pledged in the agreement to better protect US intellectual property, to curb the coerced transfer of American technology to Chinese firms, to open its financial services market to US firms and to avoid manipulation of its currency.
[Reuters – ‘US-China Trade deal’ article; LTN 242, 16/12/19]