[caww]

[Forgiven_Sinner]

MAGA. Keep winning. I expect the stock market to surge on this news.

[wastedyears]

They’ll renege in a few weeks.

[frank ballenger]

Chinese leaders got sick of people in China’s descending economy looking under merchandise and seeing “Made in USA.”

Go Trump.

[SeekAndFind]

ZERO HEDGE SUMMARIZES

Full USTR statement below:

The United States and China have reached an historic and enforceable agreement on a Phase One trade deal that requires structural reforms and other changes to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange. The Phase One agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years. Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement. The United States has agreed to modify its Section 301 tariff actions in a significant way.

“President Trump has focused on concluding a Phase One agreement that achieves meaningful, fully-enforceable structural changes and begins rebalancing the U.S.-China trade relationship. This unprecedented agreement accomplishes those very significant goals and would not have been possible without the President’s strong leadership,” said United States Trade Representative Robert Lighthizer.

“Today’s announcement of a Phase One agreement with China is another significant step forward in advancing President Trump’s economic agenda. Thanks to the President’s leadership, this landmark agreement marks critical progress toward a more balanced trade relationship and a more level playing field for American workers and companies,” said Secretary of the Treasury Steven Mnuchin.

The United States first imposed tariffs on imports from China based on the findings of the Section 301 investigation on China’s acts, policies, and practices related to technology transfer, intellectual property, and innovation. The United States will be maintaining 25 percent tariffs on approximately $250 billion of Chinese imports, along with 7.5 percent tariffs on approximately $120 billion of Chinese imports.

Still confused? Here is the simplest summary from CNBC's Eunice Yoon:

1. There is a phase one deal
2. US has agreed to keep promise to cancel tariffs “step by step” (end part of existing tariffs, cancel tariffs to be imposed, expand exemptions)
3. China to buy more US goods "without doubt" but on market need (i.e., no target)

[puppypusher]

Is this going to be another one of those agreements that China renegs upon within eight hours after its agreed to?

Where have I heard this before?

[truth_seeker]

What about Fentanyl?

Anybody know?

[central_va]

Trump said that U.S. tariffs set to take effect on Sunday on about $160 billion of Chinese consumer goods will not be imposed in light of the deal.

FAIL.

[Chgogal]

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