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."
Even amid the spread of the Delta variant, Republican governors in states like Florida and Texas have taken actions like banning mask mandates for school districts that will soon bring students back for the year. This argument happens amid a stark increase in pediatric COVID cases.
Bianca Quilantan, education reporter at POLITICO, joins Cheddar Politics to discuss.
In stories sure to move markets next week, Robinhood and several retail giants report earnings, Jerome Powell takes the podium, New York City's mask mandate goes into effect, and Tesla hosts its 'AI Day.'
Former President Trump remains the standard-bearer of the Republican Party in his first six months removed from office. But despite his position atop the party, others are moving to shore up their own bona fides. Chief among them is Florida Gov. Ron DeSantis who has signed a bevy of bills popular among conservatives this year. He's viewed as a potential successor to trump, and that's creating tension with the still-present Trump.
Matt Dixon, POLITICO Florida bureau chief, joins Cheddar Politics to discuss.
None Of The Above's J.D. Durkin pens his open letter to Gov. Asa Hutchinson (R-AR) after the governor says he regrets signing a controversial COVID-19 law.
