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China: Yes, in fact we do have a Phase One trade deal with Trump

Just as the House Judiciary Committee voted to pass two articles of impeachment, Donald Trump and China both announced a breakthrough in the trade war. The US will waive upcoming tariffs expected to be applied on Sunday and roll back some of the existing tariffs in exchange for opening agricultural markets and other “structural changes.” This will be the first phase of a broader trade agreement to come, a confidence-builder that will also avoid more economic damage to both countries:

China and the U.S. have agreed on the text of a phase one trade deal, which will see the removal of tariffs on Chinese goods in stages, Vice Commerce Minister Wang Shouwen said.

China will increase imports from the U.S. as part of the agreement, Wang said at a briefing in Beijing Friday.

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John Stossel 8:30 AM | December 28, 2024
Ed Morrissey 10:00 PM | December 27, 2024
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