President Donald Trump said he would sign what he called a “very large and comprehensive” initial trade deal with China on January 15.
Trump had previously said the two leaders would have a signing ceremony for Phase One next month. Through the deal, first announced on December 13, China will increase purchases of American farm goods and be subject to lower tariffs on some goods.
The U.S. and China reached the deal after almost two years of an escalating trade war between the world’s largest economies. The U.S. said it would decrease current tariffs and cancel new tariffs. China will increase purchases of U.S. goods and services.
The White House will leave 25 percent tariffs on $250 billion in Chinese goods in place but halve tariffs to 7.5 percent on $120 billion in products such as smartphones.
Trump said he will go to Beijing to begin talks on the second phase of the trade deal "at a later date."
More than $200 billion may have been stolen from two large COVID-19 relief initiatives, according to new estimates from a federal watchdog investigating federally funded programs that helped small businesses survive the worst public health crisis in more than a hundred years.
Using chainsaws, heavy machinery and controlled burns, the Biden administration is trying to turn the tide on worsening wildfires in the U.S. West through a multi-billion dollar cleanup of forests choked with dead trees and undergrowth.
The Supreme Court ruled Tuesday that state courts can act as a check on their legislatures in redistricting and other issues affecting federal elections, rejecting arguments by North Carolina Republicans that could have transformed contests for Congress and president.
Ron DeSantis asked a federal judge to throw out a lawsuit from Walt Disney Co. that accused the Florida governor of violating its contract with the state for his recent actions against the company.
Florida Gov. and 2024 presidential candidate Ron DeSantis outlined key immigration policies in Texas on Monday, vowing to end birthright citizenship along with mass detention and deportations.
New Zealand acknowledged it has an aging Boeing 757 so prone to breakdowns they had sent an empty backup to ensure Prime Minister Chris Hipkins didn't get stranded in China, where he is leading a trade delegation.
Delaware state Sen. Sarah McBride announced Monday she's running for the U.S. House of Representatives. Already the first openly transgender state senator elected in the country, she'd be the first transgender member of Congress if she wins in November.
