Crozer, William F. EOP/WHO
#twill #trade #tcot #maga #leadright #China #money
In a historic moment on Wednesday, January 15, 2020, President Donald J. Trump was joined by the Vice Premier of China in the East Room of the White House. Together, they signed a new, fully enforceable trade agreement that rebalances this vital trade partnership while boosting American businesses, farmers, manufacturers, and innovators. Before President Trump took office, Washington had long tolerated unfair trade practices that buoyed special interests while hurting U.S. working- and middle-class families. The Phase One Trade Agreement requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange. The Agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years. Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement. The United States has agreed to modify its Section 301 tariff actions in a significant way. You can watch Coverage from the Signing (here) and read President Trump’s remarks (here). Additional information, including pertinent Fact Sheets, is below.
Official White House Photo by Shealah Craighead
President Donald J. Trump, joined by Chinese Vice Premier Liu He, sign the U.S. China Phase One Trade Agreement | January 15, 2020
Sincerely,
The White House Office of Intergovernmental Affairs
William F. Crozer
Special Assistant to the President/Deputy Director
White House Office of Intergovernmental Affairs
U.S. – China Phase One Trade Agreement
Key Wins
The new agreement makes good on a number of President Trump’s key promises to fix trade with China.
American-Made Products: To help rebalance the relationship, China has pledged to increase imports of American goods and services by at least $200 billion.
Agriculture Purchases: As part of that commitment, China will be stocking up on goods from U.S. farmers—between $40 and $50 billion worth.
No More Forced Technology Transfers: For the first time ever, China agreed to end its practice of forcing American companies to transfer their technology to Chinese companies as a condition for doing business there.
Fair Currency Practices: Beijing has agreed to stronger commitments on its practices regarding currency devaluations and exchange rates.
What You Need To Know
Additional information, including pertinent Fact Sheets, are below.
Phase One Trade Agreement Text (here)
Fact Sheet: Intellectual Property (here)
Fact Sheet: Technology Transfer (here)
Fact Sheet: Agriculture and Seafood Related Provisions – Short Version (here) / Long Version (here)
– Seafood
– Meat, Poultry, and Live Breeding Cattle
– Pet Food
– Rice
Fact Sheet: Financial Services (here)
Fact Sheet: Macroeconomic Policies and Exchange Rate (here)
Fact Sheet: Expanding Trade (here)
