WASHINGTON DC, January 15. / TASS /. US President Donald Trump and Chinese Vice Premier Liu He signed an agreement on Wednesday on the first phase of a deal to settle bilateral trade disputes, a TASS correspondent reported.
The ceremony of signing was attended by the secretaries of the treasury, trade, agriculture and transport. Other notable guests at the ceremony were President Trump’s daughter and senior adviser Ivanka Trump and her husband Jared Kushner, veteran US diplomat and former Secretary of State Henry Kissinger, billionaire Sheldon Adelson and representatives of major companies, such as Boeing, MasterCard, Visa and ConocoPhillips.
According to a White House statement, the phase one agreement is intended to ease US intellectual property concerns and "end its [China’s] practice of forcing foreign companies to transfer their technologies." It also "addresses a wide range of trade and investment barriers that have prevented American financial services companies from being able to compete in China." Besides, the reforms included in the agreement "include a strong dispute resolution system."
"This is an unbelievable deal for the United States. And, ultimately, it’s a great deal for both countries. And it’s going to also lead to even a more stable peace throughout the world," Trump said during the ceremony.
"China is helping us with North Korea. China is helping us with a lot of the things that they can be helping us with - which you don’t see in a deal," the US president went on. "And it’s all a very, very beautiful game of chess, or a game of poker, or - I can’t use the word ‘checkers’ because it’s far greater than any checker game that I’ve ever seen. But it’s a very beautiful mosaic."
"But China is giving us a lot of help, and we’re giving them a lot of help on things that we help them with," he added.
Trump said Washington’s tariffs on Chinese goods will remain in place until the Phase Two agreement is signed.
"We’re leaving tariffs on," he said. "But I will agree to take those tariffs off, if we are able to do phase two."
According to Trump, the Phase One agreement will impose tough restrictions on devaluation of yuan.
"Currency devaluation will now have some very, very strong restrictions and very powerful restrictions," he said.
Source: TASS
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