White House Strikes Limited Trade Deal With China

October 11, 2019 by Dan McCue

WASHINGTON – The U.S. has come to a “very substantial phase one deal” with China, President Donald Trump said Friday.

Though he offered scant details, the president declared that talks on a “phase two” trade deal “will start almost immediately.”

Trump said the actual drafting of the agreement would take “several weeks” to write and would likely be signed by both sides in November.

As he spoke at the Resolute Desk in the Oval Office, Chinese Vice Premier Liu stood at his side.

Both sides in the long-running talks, which resumed at the top level this week, had signaled optimism about coming to an agreement of some sort in the near future.

Officials said the deal involves China buying $40 billion to $50 billion worth of American agricultural products, along with agreeing to guidelines on how it manages its currency. 

The agreement would also include some provisions on intellectual property, including forced technology transfer.

Earlier in the day, Treasury Secretary Steve Mnuchin had told reporters he and U.S. Trade Representative Robert Lighthizer had had a “productive two days of discussions” with China’s Vice Premier and other officials, but declined to comment further.

After the president spoke, Mnuchin announced that a new round of tariffs slated to hit imports of Chinese goods next week will not go into effect.

In The News

RNC 2020: North Carolina Says Republicans Need a Pandemic Plan With ‘Several Scenarios’
2020 Elections
RNC 2020: North Carolina Says Republicans Need a Pandemic Plan With ‘Several Scenarios’

CHARLOTTE, N.C. — Prompted by President Donald Trump’s threat to pull the Republican National Convention from Charlotte unless “full attendance” was allowed, North Carolina Health and Human Services Secretary Mandy Cohen requested a written COVID-19 safety plan from the CEO of the Republican National Convention Monday.... Read More

‘Bored’ Seismologists Find a New Hobby: Tracking Silence
In The News
‘Bored’ Seismologists Find a New Hobby: Tracking Silence

DALLAS — If you’ve been noticing more birds chirping and more frogs singing, it’s probably not your imagination. Noise created by humans, such as car and truck traffic, quieted by about 30% between late March, when Gov. Greg Abbott closed schools and restaurants across Texas, and... Read More

A Battle Over Billions in Stolen Venezuelan Funds Is Heating Up in Miami Federal Court
Courts
A Battle Over Billions in Stolen Venezuelan Funds Is Heating Up in Miami Federal Court

MIAMI — The fate of billions of dollars squirreled away in the bank accounts, luxury properties and exotic cars of convicted Venezuelan officials and their business cronies has become entangled in a colossal legal battle in Miami federal court. On one side is Venezuela’s opposition party,... Read More

Lofgren Announces FISA Amendment Agreement, Clearing Way for House Vote
Intelligence
Lofgren Announces FISA Amendment Agreement, Clearing Way for House Vote
May 26, 2020
by Dan McCue

WASHINGTON - Rep. Zoe Lofgren, D-Calif., announced Tuesday there will be a vote tomorrow on a measure she's championed to prohibit the collection of Americans’ internet search history and web browsing data without a warrant. Since January, Lofgren, Rep. Warren Davidson, R-Ohio, and a bipartisan coalition... Read More

GOP Governors Offer States as Alternative Sites for GOP Convention
Political News
GOP Governors Offer States as Alternative Sites for GOP Convention
May 26, 2020
by Dan McCue

Georgia Gov. Brian Kemp has offered his state and its "world-class facilities" to serve as host of the Republican National Convention in August, a day after President Donald Trump threatened to move the event from North Carolina unless he is assured it won't be hamstrung by... Read More

New Dems, Problem Solvers Endorse Legislation to Improve Paycheck Protection Program
Business
New Dems, Problem Solvers Endorse Legislation to Improve Paycheck Protection Program
May 26, 2020
by Dan McCue

WASHINGTON - Both the New Democrat Coalition and the Problem Solvers Caucus endorsed legislation on Tuesday intended to make the federal government's Paycheck Protection Program work better for more businesses across the country. Since its creation in the very first coronavirus relief package, many businesses have... Read More

Straight From The Well
scroll top