Federal Spotlight: Trump Announces Phase 1 Trade Agreement With China

October 16, 2019

President Trump proclaimed the United States and China have made a big step forward in trade talks as a “phase 1” deal was announced in the Oval Office last Friday. This agreement is the first move forward toward a more comprehensive accord between the world’s largest economic powers. Part of the deal included the U.S. calling off an increase in tariffs that was initially supposed to occur this past Tuesday. The president also said other aspects of the deal include resolutions on intellectual property and financial services, and China purchasing up to $50 billion worth of agricultural commodities from farmers. There will be a formal signing between President Trump and Chinese President Xi Jinping in the near future. In a release, Gov. Reynolds said she was encouraged by the news and, to build off of this gain, urged Congress to ratify the USMCA.