Trump said the Chinese had agreed to “many structural changes and massive purchases” of American farm, energy and manufactured goods.
President Donald Trump announced a “phase one” trade deal with China on Friday, saying Beijing had agreed to targeted purchases of U.S. goods and will avoid tariffs that had been set to go into place on Sunday.Trump said in a pair of tweets that the Chinese had agreed to “many structural changes and massive purchases” of American farm, energy and manufactured goods.
— Donald J. Trump December 13, 2019 .....The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!
“The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal,” the president wrote, tweeting as Chinese officials were briefing reporters in Beijing.Trump also agreed to reduce by half — from 15% to 7.5% — the tariffs on about $120 billion of goods, but he said separate 25% levies on $250 billion in imports would remain.
President Trump has sold out for a temporary and unreliable promise from China to purchase some soybeans.
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