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."
On this episode of Cheddar Reveals Richenda Sandlin-Tymitz, Marketing & Content Manager at Alaska Tour & Travel, breaks down when and how to plan your best trip to Alaska; Kristen Miller, Acting Executive Director, Alaska Wilderness League, discusses the Arctic National Wildlife Refuge and the oil drilling that threatens it; Cheddar gets a look at Curiosity Stream's 'The Magic of the Wild.'
Kristen Miller, acting executive director, Alaska Wilderness League, discusses the Arctic National Wildlife Refuge and the oil drilling that threatens it.
The Department of Treasury is warning Americans to expect delays on their tax returns this year as the IRS manages staffing shortages due to the pandemic.
The United States and Russia remain distant following a meeting between high-level officials for the two countries in Geneva, Switzerland. The nations remain conflicted over Washington's concern of a potential invasion of Ukraine by Russia and Moscow dispute with NATO expanding into former Soviet states. Hagar Chemali, host of Oh My World on YouTube and former spokesperson for the U.S. Mission to the U.N., joined Cheddar's "News Wrap" to give her take about the careful diplomatic negotiations underway. "I would expect more rounds," she said about the talks. "Both sides really remain adamant that we're not going to talk about Russia's proposal, and Russia doesn't want to talk about anything but its proposal. So once they start talking about the other items on the table, and there are a few other items, that's when negotiations can start."
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
Eli Yokley, Senior Reporter at Morning Consult, joins Cheddar News to discuss how Americans are prioritizing economic issues over the pandemic when it comes to voting.
President Biden's disapproval rating hit a new high in December according to a poll from CNBC and Change Research, as Americans expressed their disapproval over the current state of the economy. This comes just months after the president signed a historic infrastructure bill back in November that was promised to bring a surge of jobs, especially in the manufacturing sector.
Change Research Senior Pollster Nancy Zdunkewicz spoke to Cheddar News about just what is driving the President’s disapproval rating.
