Wed Jan 15, 2020 AT 3:05 PM EDT
President Donald Trump and Chinese Vice Premier Liu He signed an initial “Phase One” trade agreement Wednesday, freezing a 20-month trade war between Washington and Beijing and opening the door to a more-substantial “Phase Two” deal.
The deal, text of which was not released ahead of the signing, is said to include commitments by China to buy $200 billion of U.S. goods, including as much as $50 billion in agricultural products over two years.
“Today we take a momentous step, one that has never been taken before with China, toward a future of fair and reciprocal trade as we sign Phase One of the historic trade deal between the United States and China,” Trump said. Read Full Story