On January 15th, 2020, the United States and China reached a historic trade deal that is expected to bring an end to the 18-month trade war between the two countries. The agreement, which was signed by President Donald Trump and Chinese Vice Premier Liu He, includes a number of provisions that are intended to address the issues that led to the trade war in the first place.
The deal includes commitments from China to purchase an additional $200 billion worth of U.S. goods and services over the next two years. This includes $32 billion in agricultural products, $77 billion in manufactured goods, and $52 billion in energy products. China also agreed to make structural reforms to its economy, including opening up its markets to foreign companies and strengthening intellectual property protections.
The agreement also includes provisions to address the issue of currency manipulation, which has been a major point of contention between the two countries. China has agreed to refrain from devaluing its currency to gain an unfair advantage in trade.
The deal is expected to bring an end to the tariffs that have been imposed by both countries over the past 18 months. The U.S. has agreed to reduce tariffs on $120 billion worth of Chinese goods from 15% to 7.5%, while China has agreed to reduce tariffs on $75 billion worth of U.S. goods from 10% to 5%.
The agreement is a major step forward in resolving the trade dispute between the two countries, and is expected to have a positive impact on the global economy. It is also seen as a sign of progress in the ongoing negotiations between the two countries on a broader trade deal.
The deal is a major victory for President Trump, who has long sought to address the issues of unfair trade practices by China. It is also a major win for the Chinese economy, which has been hit hard by the trade war.
The agreement is expected to bring an end to the trade war between the two countries, and is seen as a major step forward in resolving the issues that led to the dispute in the first place. It is also expected to have a positive impact on the global economy, and is seen as a sign of progress in the ongoing negotiations between the two countries on a broader trade deal.
