06 Jan Trump Expects To Sign Initial Trade Deal On January 15
President Donald Trump said he would sign the “Phase One Trade Deal” with China at the White House on January 15.
In a tweet on December 31, the president said “high-level representatives of China” will attend the signing. The President said he would travel to Beijing “at a later date” to start talks toward a second part of the trade agreement.
Under the proposed deal, tariffs on $156 billion in Chinese imports — primarily consumer goods such as toys, clothes and electronics — that were set to be imposed on December 15 were delayed. Those tariffs would have taxed virtually everything China sells to the U.S.
Tariff rates on $120 billion of Chinese imports imposed in September will be halved to 7.5 percent from 15 percent. A 25 percent tariff placed on $250 billion of Chinese products implemented earlier in the 19-month trade dispute will remain in effect, although those imports exclude most consumer products.