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."

Share:
More In Politics
Why Democrats Losing Hispanic Voters
Chuck Rocha, host of 'Nuestro' podcast and opinion contributor at The New York Times, joins Cheddar News to discuss why Democrats are losing Hispanic voters.
Return-to-Office Mandates Might Be Hurting the Middle Class
More businesses are requiring workers to return to the office, but there is concern that many employees in the middle class, especially women and people of color, need remote work options for reasons including childcare and financial security. Joan Williams, director of the Center for WorkLife Law at the University of California, joined Cheddar to discuss why office mandates could be detrimental to the middle class. She noted that while companies claim a return to offices would help foster more collaboration and efficiency, reports show that they are successfully able to do their jobs from home.
California Governor Explores Texas-Like Law to Ban Assault Weapons
The U.S. Supreme Court ruled to allow the controversial Texas abortion law to remain in effect, banning abortion at six weeks and allowing any private citizen to sue a person or doctor aiding or abetting someone seeking an abortion. Outraged at this decision, California Governor Gavin Newsom is working to draft a proposal in line with the law as it relates to guns. Shawn Hubler, California correspondent at the New York Times, joins Cheddar News to discuss.
Getting Into the Vaccine Mandate Debate as Google Implements Its Own
Even as tech giant Google implements a vaccination mandate, charging its employees to declare their vaccine status within a time frame or risk dismissal, the federal government is tangled up in the court system trying to impose one of its own. Cindy Cohn, the executive director of the Electronic Frontier Foundation, and Harry Nelson, founder and managing partner of Nelson Hardiman LLP, joined Cheddar to debate the ethics, efficacy, and legality surrounding the issue. While Cohn noted that she thinks the federal mandate might be legally sound, her organization is also concerned with a separate question of privacy. "At EFF what we're most interested in is the digital surveillance that's going along with some of these attempts to try to track and confirm whether people are vaccinated or not," she said.
Load More