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 stunning removal of Kevin McCarthy as speaker has left the House adrift as Republicans struggle to bring order to their fractured majority and begin the difficult and potentially prolonged process of uniting around a new leader.
New York City is challenging a unique legal agreement that requires it to provide emergency housing to anyone who asks for it, as the city's shelter system strains under a large influx of international migrants who have arrived since last year.
Warned to mind his out-of-court comments, former President Donald Trump returned to his New York civil fraud trial Wednesday as lawyers on both sides closely questioned an accountant who prepared financial statements at the heart of the case.
The third day of former president Donald Trump's civil fraud trial kicked off earlier Wednesday in New York, a day after a judge imposed a limited gag order on Trump.
The National Zoo's three giant pandas — Mei Xiang, Tian Tian and their cub Xiao Qi Ji — are set to return to China in early December with no public signs that the 50-year-old exchange agreement struck by President Richard Nixon will continue.
Speaker Kevin McCarthy plans to force a vote Tuesday on the far-right effort to oust him from his leadership position and insists he will not cut a deal with Democrats to remain in power, setting the stage for an extraordinary and unpredictable showdown on the House floor.
