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Trade pact 'good for China, US, world'

2020-01-16

On the morning of January 15, 2020, the signing ceremony of the first phase of the China-US economic and trade agreement was held in the East Hall of the White House. Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, signed a text of the agreement with US President Trump and delivered a speech.

Liu He, member of the Political Bureau of the CPC Central Committee, deputy prime minister of the State Council and Chinese leader of the China-US Comprehensive Economic Dialogue, said at the signing ceremony of the first phase of the China-US economic and trade agreement that reaching the first phase of the economic and trade agreement is good for China and the United States Good for the whole world.

The text of the agreement includes nine chapters: preamble, intellectual property, technology transfer, food and agricultural products, financial services, exchange rates and transparency, expanded trade, bilateral assessments and dispute settlement, and final clauses.

At the same time, the two sides reached an agreement that the United States will fulfill its relevant commitments to phase out tariff increases on Chinese products in stages and realize the transition from increasing to decreasing tariffs.

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