US President Donald Trump announced that ‘Phase-One’ of the US-China trade deal will be signed on January 15 at the White House. The details of the agreement were not disclosed but it is expected to increase China’s purchase of US agricultural goods and boost intellectual property protections while US reduces tariffs. The Phase-One deal was struck earlier in December.
“I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15. The ceremony will take place at the White House. High level representatives of China will be present,” Trump tweeted.
US launched a trade war against Beijing a year and half ago over allegations of unfair trade practices, such as theft of U.S. intellectual property and subsidies that unfairly benefit Chinese state-owned companies.
The United States Trade Representative said the Phase 1 deal includes stronger Chinese legal protections for patents, trademarks, copyrights, including improved criminal and civil procedures to combat online infringement, pirated and counterfeit goods.