Following President Trump’s announcement that the U.S. has come to the first phase of a deal with China, Sec. Mnuchin says that new tariffs on China will not go up next week.
The U.S. has come to a "very substantial phase one deal" with China in the high-stakes trade negotiations between the two economic superpowers, President Donald Trump said Friday.
"Phase two will start almost immediately" after the first phase is signed, Trump said in the Oval Office alongside Chinese Vice Premier Liu He. The first portion of the trade deal will be written over the next three weeks, Trump said. It will address intellectual property and financial services concerns, along with purchases of about $40 to $50 billion worth of agricultural products by China, Trump said.
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