US-China Phase One Deal ‘Absolutely Completed’: White House Chief Economic Adviser
According to White House chief economic adviser, Larry Kudlow, the US-China phase one trade deal is absolutely completed, and will enable the US to increase its exports to China by twice the existing quantity. Even though Chinese officials seem more reluctant to confirm this, while addressing reporters at the White House on Monday, Kudlow remarked, “Make no mistake about it: the deal is done, the deal is completed.”
Kudlow also expressed hope that the two nations could get together early in January for signing this partial trade deal. For now, work is on to translate the draft agreement, but the final aspects have been finalized so far.
To add to the optimism in the markets, US President Donald Trump has already confirmed that work on the phase two of the trade deal will begin as soon as this deal is inked and implemented. The phase one deal serves to increase imports of US farm goods by China in exchange for reduced tariffs on its goods.
Sidebar rates
Related Posts
