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ver Story
AmCham South China Applauds
Major Breakthrough in Trade Talks,
Phase One to be Signed in Jan 2020
Article by Dr. James Eric Black, Schumann Endowed Professor and
Chair, Mercer University Department of Journalism and Media Studies
The United States and China have of Commerce in South China representing more than 2,300
reached an historic and enforceable members which account for nearly 40 percent of US-China
agreement on a Phase One trade deal business, trade and investments. President Seyedin also
that requires structural reforms and indicated that with the agreement in place, he fully expects
other changes to China’s economic and many large investments by Chinese and American companies
trade regime. currently on hold to be released so that they, too, can contribute
to the growth of US and China and the world as a whole.
The Phase One deal includes an
agreement from China to increase imports The two sides have agreed to the wording of a deal, which
from the US. The deal, however, hinges on would cover nine areas: technology transfer, food and agriculture,
China increasing purchases of American financial services, exchange rate, expanding trade, dispute
farm goods such as soybeans and pork, and resolution and a final agreement.
making new commitments on intellectual
property, forced technology transfer Both countries will proceed in detailed translations and legal
and currency. Speaking to reporters in review of the text and discuss arrangements for signing the
Washington, President Donald Trump said agreement. President Trump’s chief economic advisor Larry
he expects China’s agriculture buying to hit Kudlow said that the process should take “inside of a few weeks”,
$50 billion annually “pretty soon.” and the final signing would be between US trade representative
Robert Lighthizer and Chinese Vice-Premier Liu He. Lighthizer
China is the largest importer of agricultural said he expected the 86-page agreement to be signed in early
products in the world and would increase January in Washington and released publicly then.
food imports from the US, said Ning Jizhe,
vice chairman of the National Development Lighthizer said,
and Reform Commission. “President Trump
has focused on
The United States Trade Representative's concluding a Phase
Office said a strong dispute resolution One agreement
system between the two nations would be that achieves
established. In return, the US had agreed meaningful, fully-
to modify its Section 301 tariff actions in a enforceable structural
significant way. changes and begins
rebalancing the
President Trump, who called the deal US-China trade
"amazing," said that he would "begin relationship. This
negotiations on the Phase Two Deal unprecedented
immediately, rather than waiting until after agreement
the 2020 Election." accomplishes those
very significant goals
“Both Presidents Trump and Xi deserve and would not have
our thanks for listening to our concerns been possible without
and our congratulations for working the President’s strong
hard to bring about a clear path and a leadership.”
level playing field for US and Chinese
companies alike” said Dr. Harley Seyedin, Secretary of the Treasury Steven Mnuchin was equally excited
President of the American Chamber about the progress, saying the Phase One agreement with China
5 AmCham South China
AmCham South China Applauds
Major Breakthrough in Trade Talks,
Phase One to be Signed in Jan 2020
Article by Dr. James Eric Black, Schumann Endowed Professor and
Chair, Mercer University Department of Journalism and Media Studies
The United States and China have of Commerce in South China representing more than 2,300
reached an historic and enforceable members which account for nearly 40 percent of US-China
agreement on a Phase One trade deal business, trade and investments. President Seyedin also
that requires structural reforms and indicated that with the agreement in place, he fully expects
other changes to China’s economic and many large investments by Chinese and American companies
trade regime. currently on hold to be released so that they, too, can contribute
to the growth of US and China and the world as a whole.
The Phase One deal includes an
agreement from China to increase imports The two sides have agreed to the wording of a deal, which
from the US. The deal, however, hinges on would cover nine areas: technology transfer, food and agriculture,
China increasing purchases of American financial services, exchange rate, expanding trade, dispute
farm goods such as soybeans and pork, and resolution and a final agreement.
making new commitments on intellectual
property, forced technology transfer Both countries will proceed in detailed translations and legal
and currency. Speaking to reporters in review of the text and discuss arrangements for signing the
Washington, President Donald Trump said agreement. President Trump’s chief economic advisor Larry
he expects China’s agriculture buying to hit Kudlow said that the process should take “inside of a few weeks”,
$50 billion annually “pretty soon.” and the final signing would be between US trade representative
Robert Lighthizer and Chinese Vice-Premier Liu He. Lighthizer
China is the largest importer of agricultural said he expected the 86-page agreement to be signed in early
products in the world and would increase January in Washington and released publicly then.
food imports from the US, said Ning Jizhe,
vice chairman of the National Development Lighthizer said,
and Reform Commission. “President Trump
has focused on
The United States Trade Representative's concluding a Phase
Office said a strong dispute resolution One agreement
system between the two nations would be that achieves
established. In return, the US had agreed meaningful, fully-
to modify its Section 301 tariff actions in a enforceable structural
significant way. changes and begins
rebalancing the
President Trump, who called the deal US-China trade
"amazing," said that he would "begin relationship. This
negotiations on the Phase Two Deal unprecedented
immediately, rather than waiting until after agreement
the 2020 Election." accomplishes those
very significant goals
“Both Presidents Trump and Xi deserve and would not have
our thanks for listening to our concerns been possible without
and our congratulations for working the President’s strong
hard to bring about a clear path and a leadership.”
level playing field for US and Chinese
companies alike” said Dr. Harley Seyedin, Secretary of the Treasury Steven Mnuchin was equally excited
President of the American Chamber about the progress, saying the Phase One agreement with China
5 AmCham South China
