President Trump stated that he will sign this “phase one” trade deal reached between the U.S. and China at the White House on Jan. 15. Later in the year, President Trump will travel to Beijing this year for high-level trade negotiations with China dealing with “Phase Two”.
The president and U.S. trade officials Robert Lighthizer, Steven Mnuchin, Peter Navarro and Larry Kudlow finalized the phase one deal at the White House on Dec. 12. Details of the trade deal remain limited, but Trump agreed to halt the imposition of another round of tariffs on an estimated $160 billion in Chinese imports that was scheduled for Dec. 15. The Chinese government agreed to boost imports of U.S. agricultural products.
The 2019 “trade war”, began when the U.S. imposed tariffs on Chinese imports in February 2018 based on findings of the Section 301 investigation on China’s acts, policies and practices related to technology transfer, intellectual property and innovation, has negatively resulted in financial impacts for shippers of both countries.
