President Trump has kept a keen focus on his campaign promises since taking office and is on the verge of keeping a very big promise.
United States Trade Representative Robert Lighthizer, along with Chinese Premier Liu He will sign the preliminary trade agreement between the two countries on Wednesday.
According to Fox Business:
U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He are set to sign a historic preliminary trade deal Wednesday, delivering on a cornerstone commitment of President Trump’s 2016 campaign.
The agreement, the first piece of a broader pact that Trump says may have as many as three phases, is said to include commitments from Beijing to purchase $200 billion of U.S. products over the next two years, halt intellectual property theft and refrain from currency manipulation. In return, the U.S. will reduce tariffs on some products made in China, but keep duties the White House has imposed on $375 billion worth of merchandise.
“It’s a really, really good deal for the United States, and it will work if reformers in China want it to work,” Lighthizer told FOX Business’ Lou Dobbs on Monday evening. “And if that happens, great. If it doesn’t happen, it’s fully enforceable.”
Already, the U.S. has updated its Foreign Exchange Report to indicate that it no longer considers China a currency manipulator, a move Beijing had requested before the signing took place.
Senate Minority Leader Chuck Schumer has already slammed the deal as inadequate despite the full text not being released.
President Trump is expected to sign the deal on Friday and has said that phase two talks will begin immediately.