Trump said during a White House ceremony that the deal is “righting the wrongs of the past.” He promoted the signing as a way of delivering economic justice for American workers and said, “We mark a sea change in international trade” with the signing.
The agreement is being described as “phase one” of a larger negotiation focusing on tensions in the U.S.-China trade relationship. Chinese leader Xi Jinping said in a letter to Trump that the first phase is “good for China, the U.S. and for the whole world.” The letter was read by Beijing’s chief negotiator, Vice Premier Liu He.
But this agreement would do little to force China to make the major economic changes such as reducing unfair subsidies for its own companies that the Trump administration sought when it started the trade war by imposing tariffs on Chinese imports in July 2018.
The White House ceremony gave Trump a chance to cite progress on a top economic priority on the same day that the House prepared to vote to send articles of impeachment to the Senate for a trial. He told Republican lawmakers attending the ceremont that he understood if they had to leave early for votes.
“They have a hoax going on over there. Let’s take care of it,” Trump said.
The agreement is intended to ease some U.S. economic sanctions on China while Beijing would step up purchases of American farm products and other goods. Trump cited beef, pork, poulty, seafood, rice and dairy products as examples.
The deal would lower tensions in a trade dispute that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy. Trump said easing trade tensions was critical.
“Keeping these two giant and powerful nations together in harmony is so important for the world,” Trump said. “The world is watching today.”
This story is from the January 17, 2020 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 17, 2020 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
TIKTOK SUES US TO BLOCK LAW THAT COULD BAN THE SOCIAL MEDIA PLATFORM
TikTok and its Chinese parent company ByteDance are suing the U.S. over a law that would ban the popular video-sharing app unless it's sold to another company, arguing that it vaguely paints it as a threat to national security to get around the First Amendment.
DISNEY'S STREAMING BUSINESS TURNS A PROFIT IN FIRST FINANCIAL REPORT SINCE CHALLENGE TO IGER
India, Disney+Hotstar, it expects its combined streaming businesses to be profitable in the fourth quarter and to be a meaningful future growth driver for the company, with further improvements in profitability in fiscal 2025.
INSTACART PARTNERS WITH UBER EATS TO OFFER RESTAURANT DELIVERIES
Grocery delivery company Instacart is partnering with Uber Eats to offer a new perk to its customers: restaurant delivery.
RYAN GOSLING AND EMILY BLUNT ARE GREAT FUN IN 'THE FALL GUY
One of the worst movie sins is when a comedy fails to at least match the natural charisma of its stars. Not all actors are capable of being effortlessly witty without a tightly crafted script and some excellent direction and editing.
FRENCH CYBERWARRIORS READY TO TEST THEIR DEFENSE AGAINST HACKERS AND MALWARE DURING THE OLYMPICS
Just like the Olympic athletes, the cyberwarriors that will be crucial for the success of the Paris Games are deep into training for the big event.
NINTENDO TO ANNOUNCE SWITCH SUCCESSOR IN THIS FISCAL YEAR AS PROFITS RISE
Japanese video-game maker Nintendo said this week that it will make an announcement about a successor to its Switch home console sometime before March 2025.
US SEEKS INFORMATION FROM TESLA ON HOW IT DEVELOPED AND VERIFIED WHETHER AUTOPILOT RECALL WORKED
Federal highway safety investigators want Tesla to tell them how and why it developed the fix in a recall of more than 2 million vehicles equipped with the company’s Autopilot partially automated driving system.
SLOW TO EXPAND, INTERNET CASINO GAMBLING IS THE FUTURE OF US BETTING, INDUSTRY EXECS SAY
Internet casino gambling is legal in only a handful of states, but the industry is convinced it is the future of betting, even as some worry about cannibalizing physical casinos.
US LOOSENS SOME ELECTRIC VEHICLE BATTERY RULES, POTENTIALLY MAKING MORE EVS ELIGIBLE FOR TAX CREDITS
The U.S.government loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500 but leading critics to accuse the Biden administration of helping China.
FTX WILL RETURN MONEY TO MOST CUSTOMERS LESS THAN 2 YEARS AFTER CATASTROPHIC CRYPTO COLLAPSE
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.
