WASHINGTON, Jan. 15, 2020 – President Trump and Chinese trade officials signed a Phase One Trade Agreement today. Agriculture Commissioner Doug Goehring, who attended the White House bill signing ceremony with President Trump, applauded its signing.
Under the agreement, both sides will eliminate or lower tariffs for certain goods and China will increase overall imports from the U.S. by $200 billion over the next 2 years, including an annual total of about $40 billion in agricultural purchases. The agreement will also have stronger intellectual property protection and technology transfer reforms.
“I am thankful for the leadership of President Trump and Ambassador Lighthizer on this deal,” Goehring said. “I am extremely pleased to see these unjustified trade barriers being removed and market access being enhanced for our agricultural producers, manufacturers and innovators.”
“This agreement brings predictable trade and meaningful, enforceable structural reforms to address intellectual property, technology transfers and currency manipulation,” Goehring said. “The world benefits from this agreement because it brings accountability and transparency.”
More details can be found on the agreement at https://ustr.gov/sites/default/files/US-China-Agreement-Fact-Sheet.pdf.