President Donald J. Trump Signs Lundmark Phase One Economic Trade Agreement With China
Today, President Trump is signing a new, fully enforceable phase one trade agreement with China. President Trump is fixing the failed policies of the past and the United States. We are making our promise to give fair trade. This historic agreement re-establishes our important trade partnership with China. To begin and to benefit both our countries will begin. this agreement will help to boost for American businesses, farmers, manufacturers and innovators. Important Context China to make significant structural reforms across a wide range of key sectors Has been agreed. This agreement to compete and win for America's innovators Will help raise the level of oil. Significantly, the reforms included in the agreement are fully implemented and include a robust dispute resolution system to ensure effective implementation and enforcement. For the first time in any trade agreement, China foreign companies To end its practice of forcing foreign companies to transfer their technology to gain market access. China will follow intellectual property concerns in the areas of trade secrets, trademarks, enforcement against pirated and counterfeit goods, and more. China agreed to strong commitments on currency devaluation and currency practices regarding exchange rates. The agreement addresses a wide range of trade and investment barriers that have led to American financial services companies. Is prohibited from being able to compete in China. The agreement addresses structural barriers in which United States food and agricultural exports are severely limited. Significant by China over accepting United States agricultural biotechnology products in the agreement Commitments are included.
This agreement is supposed to revive our trade relations with China. And will provide new opportunities for American businesses and farmers. As part of the new agreement, China has promised to increase imports of American goods and services by at least $ 200 billion. In United States imports China's growth will occur over the next 2 years, and the trajectory is expected to continue even after 2021. This growth is crucial in rebalancing the United States-China trade relationship. China will progress. Under this deal, the United States will purchase manufactured goods, agriculture, energy and services. China has agreed to purchase between $ 40 to $ 50 billion in US agricultural commodities every year for two years - Which gives a huge boost to the hardworking farmers of America.