China says in touch with U.S. on signing of Phase 1 trade deal

 

FILE PHOTO: Chinese staff members adjust U.S. and Chinese flags before the opening session of trade negotiations between U.S. and Chinese trade representatives at the Diaoyutai State Guesthouse in Beijing, China February 14, 2019. Mark Schiefelbein/Pool via REUTERS

 

BEIJING (Reuters) - China and the United States are in touch over the signing of their Phase 1 trade deal, China’s commerce ministry said, which will see lower U.S. tariffs on Chinese goods and higher Chinese purchases of U.S. farm, energy and manufactured goods.

 

The Phase 1 deal was announced last week after more than two years of on-and-off trade talks, although neither side has released many specific details of the agreement.

 

Both the Chinese and U.S. trade teams are in close communication, Gao Feng, a spokesman at the Chinese commerce ministry, told reporters at a regular briefing on Thursday, adding there is no specific information on the deal to disclose currently.

 

“After the official signing of the deal, the content of the agreement will be made public,” Gao said.

 

U.S. officials say China agreed to increase purchases of U.S. products and services by at least $200 billion over the next two years.

 

According to Washington, that would include additional purchases of U.S. farm products of $32 billion over two years. That would average an annual total of about $40 billion, compared to a baseline of $24 billion in 2017 before the trade war started.

 

Chinese officials have so far not publicly confirmed much of Washington’s version - especially on goods purchase commitments. But China said on Friday when the deal was announced that it will import more U.S. wheat, rice, corn, energy, pharmaceuticals and financial services.

 

Earlier on Thursday, China unveiled a new list of tariff exemptions for U.S. imports, mostly chemical products, days after the world’s two largest economies announced the Phase 1 deal. China said the second part of the waiver list will be released at an appropriate time.

 

Washington said the deal also includes stronger Chinese legal protections for patents, trademarks, copyrights, including improved criminal and civil procedures to combat online infringement, pirated and counterfeit goods.

 

The two countries have reached a consensus over the protection of trade secrets, guarding intellectual property rights for pharmaceutical products, and cracking down on counterfeits and pirated goods on e-commerce platforms, Chinese Vice Minister of Commerce Wang Shouwen said on Friday.

 

China will step up protection of intellectual property but at its own pace, Wang said.

 

-- © Copyright Reuters 2019-12-19

Follow Thaivisa on LINE for breaking Thailand news and visa info

16 minutes ago, snoop1130 said:

“After the official signing of the deal, the content of the agreement will be made public,” Gao said.

whereby you will see that not much have changed from the original deal, the master of the (NO) deal has been claiming victory after victory but just on words nothing concrete happen, they said Trump went back to no tariffs as long as they PROMISED to buy US agricultural products, since Chinese never respect their promises I wonder what Trump will do....oh I know more ranting, twitting and name calling to the Chinese, ranting he's good at as for making deals he's a zero, none and auf null setzen or nichts

Edited December 19, 20196 yr by Mavideol

2 hours ago, snoop1130 said:

“After the official signing of the deal, the content of the agreement will be made public,” Gao said.

Somebody lost their shirt, pants, and underwear. My bet is that it was Donny.

Is there  nocoincedence this  announcement  comes  on the heels of  passing impeachment  charfes? Some strangely twisted testamonial of appeal to  legitimacy  of  POTUS tenure?

The contents of the deal should be made public before it is signed. What's to hide?

45 minutes ago, IAMHERE said:

The contents of the deal should be made public before it is signed. What's to hide?

Hiding the fact that Trump really gained nothing after two years of turmoil.  Once the deal is made public all his losses will be blocked out with crayon lol

 

16 hours ago, snoop1130 said:

Washington said the deal also includes stronger Chinese legal protections for patents, trademarks, copyrights, including improved criminal and civil procedures to combat online infringement, pirated and counterfeit goods.

What deal concluded? China and US Department of commerce have been protecting and enforcing intellectual rights against counterfeits and pirated goods during Obama tenure. China has been stepping up improving the legal framework in accordance with law long before 2016. Nothing is new in the latest round of trade talk. Just like the USMCA has little change from the old NAFTA and very little to increase trade. 

On 12/19/2019 at 8:21 PM, zydeco said:

Somebody lost their shirt, pants, and underwear. My bet is that it was Donny.

agree with you but that version will not be available to us, only the redacted/embellished version will be available to the public

On 12/20/2019 at 7:56 AM, IAMHERE said:

The contents of the deal should be made public before it is signed. What's to hide?

what's to hide??? same as he's hiding now from the impeachment inquiry or hiding the taxes returns, all of it, the lesser people know the better, thus nobody question his deals

Posts using trolling representations of politician's names have been removed.  If you do not want your post to be removed, please learn to spell people's names correctly. 

Art of the Completely Naked Surrender. The Big Blowhard got absolutely nothing with his "deal." What an embarrassment this despicable baboon. is. 

Quote

On Monday, the Treasury Department -- in its twice-a-year report to Congress -- said it found no major trading partners "at this time" in violation of troubling foreign exchange practices that would trigger the label, including China.   https://edition.cnn.com/2020/01/13/politics/china-removed-us-currency-manipulator-list/index.html

 

and it's not done until the fat lady sings.... let's wait and see what bs he will come up at the last minute, quite sure he will be blaming the Chinese..... and yet he still calls himself the master of the (NO) deal, what a disgrace for the USA