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 119,000 people have been injured by tear gas and other chemical irritants around the world since 2015 and some 2,000 suffered injuries from “less lethal” impact projectiles, according to a report released Wednesday.
President Joe Biden is calling for more transparency by signing the COVID-19 Origins Act.
TikTok has rolled out updated rules and standards for content and its CEO warned against a possible U.S. ban on the video sharing app as he prepares to face Congress.
Tens of thousands of workers in the Los Angeles Unified School District walked off the job Tuesday over stalled contract talks, and they are being joined in solidarity by teachers in a three-day strike that has shut down the nation’s second-largest school system.
Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability.
Ted Lasso Cast Visits White House to Promote Mental Health & Wellness
California Gov. Gavin Newsom over the weekend announced that the state has secured a contract with CIVCA to make $30 insulin available to all who need it. He also announced that the state will start manufacturing Naloxone, an emergency medication used to rapidly reverse the effects of an opioid overdose.
The International Criminal Court said Friday that it has issued an arrest warrant for Russian President Vladimir Putin for war crimes, accusing him of personal responsibility for the abductions of children from Ukraine.
Cash-short banks have borrowed about $300 billion from the Federal Reserve in the past week, the central bank announced Thursday.
A total of 33 states and the District of Columbia now allow at least some form of sports wagering, but the prospects are mixed for expanding sports betting to additional states this year.
