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."
Hackers have broken into a Washington, D.C. health insurance marketplace and stolen sensitive personal data including Social Security numbers and home addresses of members of Congress, their employees and family members.
Senate Republican leader Mitch McConnell suffered a concussion after a fall at a local hotel and remains hospitalized “for a few days of observation and treatment,” a spokesman said Thursday.
Norfolk Southern's CEO is apologizing to Congress on Thursday and pledging millions of dollars to help East Palestine, Ohio, recover from the fiery hazardous materials train derailment as senators investigate.
The RESTRICT Act seeks to proactively tackle dangerous technology, including TikTok, according to a bipartisan group of senators that includes Mark Warner (D-Va.).
