China and the USA
Seal the first phase of the agreement to end the trade war
Washington still maintains tariffs on USD 360,000 million in products imported from Beijing.
The United States and China have signed an agreement on Wednesday that closes the first chapter in the damaging trade war that the two main powers have been fighting for almost two years. The agreement opens the Chinese market to more US companies, especially in the financial sector, represents an increase in exports of US agricultural products and contains commitments to respect intellectual property, but keeps tariffs on Chinese products, worth 360,000. millions of dollars. These tariffs remain in effect, explained Donald Trump during the signing ceremony at the White House, so that the United States can have “a negotiating tool” for the second and final phase of the agreement, whose negotiation the president has said will begin immediately.
The agreement, of 86 pages in its English version, ends two years of tense negotiations, following the offensive of a president who, as he recalled on Wednesday in his appearance with Chinese Deputy Prime Minister, Liu He, already in the campaign who three years ago took him to the White House promised a hard hand with China, whose business practices he believes have reduced industry and employment in the United States. The agreement, at the start of the year in which the president undergoes his re-election, will allow Trump to sell a victory in a battle that has weighed his first term, but his critics will be able to underline the economic damage caused by the long dispute and the fact that the toughest fronts remain unsolved.
"China will spend more than 200,000 million dollars in the next two years on US products," said Trump, who has broken down the amount: 75,000 million in industrial goods, 50,000 in energy, 50,000 in agricultural products and between 40,000 and 50,000 in services, including financial. The US president has also highlighted the advances in the protection of intellectual property and the "strong restrictions" on the devaluation of the currency.
The agreement, however, has a limited scope and leaves for the second phase, which President Trump has said will be the last, some of the main sources of tensions between the two powers. Any commitment by China to change its economic structure, in particular its subsidy policy to support its strategic industries that undermines competition, is out of agreement, nor has a Beijing commitment to greater transparency in data management and management been achieved. Cybersecurity There will still be $ 360 billion in tariffs on Chinese products, but the United States agrees not to impose more if China fulfills its commitments.
All of which has not prevented Trump from talking about the "biggest deal anyone has ever seen." "Together we are correcting the mistakes of the past and providing a future of justice and economic security for American workers, farmers and families," said the president. Afterwards, the Chinese Vice Premier has read a letter from President Xi Jinping, and has promised that Beijing "will strictly honor the agreement."
In addition to the two delegations, the ceremony has been attended by dozens of American businessmen, whom a plethoric Trump has been saluting and praising one by one. In the room, full of journalists (there were up to 60 accredited Chinese media), were also prominent Republican lawmakers. At the other end of Pennsylvania Avenue, in the Capitol, congressmen were preparing to vote in the prolegomena of the Senate trial on Trump's impeachment, which the president has taken advantage of to qualify as a "farce."