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."
The world is in a “sorry state" because of myriad “interlinked” challenges including climate change and Russia's war in Ukraine that are “piling up like cars in a chain reaction crash,” the U.N. chief said at the World Economic Forum's meeting Wednesday.
European Commission President Ursula von der Leyen presented the outlines for her “Green Deal Industrial Plan” at the World Economic Forum at Davos.
For the first time in decades, China has fewer people than it did at the start of last year, according to official figures released Tuesday.
Solomon Pena was arrested in connection with a recent series of drive-by shootings targeting Democratic lawmakers in New Mexico.
The request comes after the White House's weekend disclosure that more classified records were found at the president's Delaware residence.
The winter meetup of CEOs and heads of state is the first since 2020.
The U.S. Treasury notified Congress that the debt ceiling could hit next week.
Google said a liability case before the Supreme Court could potentially "upend the internet" and lead to massive censorship online.
Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default.
Thousands of New York City nurses are back at work after a strike ended at two of the city's biggest hospitals.
