US, China Sign 'Phase One' Trade Deal

Headline Roundup January 15th, 2020

The U.S. and China signed a preliminary part of a trade deal Wednesday morning. The deal reportedly focuses on negotiations, intellectual property theft, tariffs, and currency manipulation; China has also agreed to purchase $200 billion worth of US goods over the next two years. The plan for the deal's second phase remains unclear.

Some outlets, many right-leaning, framed the deal as a victory for President Donald Trump in his trade war with China. Some left-rated reporting mentioned the deal's potential flaws more prominently.

US, China Sign 'Phase One' Trade Deal

From the Left
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The China trade deal President Donald Trump is hailing as a major win fails to address some of Beijing’s most egregious practices — the issues that sparked the trade war in the first place.

Trump and Chinese Vice Premier Liu He signed the agreement during a White House ceremony Wednesday after nearly two years of escalating trade tensions that saw both sides ratchet up tariffs on hundreds of billions' worth of each other’s goods.

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From the Center
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ANALYSIS

The Phase One trade deal between the United States and China is expected to be signed today, January 15. Details have not yet emerged, but certain pledges have been announced by both sides since a preliminary agreement was reached on December 13. Among them, the United States will begin to dial back tariffs and withdraw its “currency manipulator” designation – a major source of tension – in exchange for PRC guarantees to purchase a $200 billion bundle in US goods and services over the next two years. Included in this...

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From the Right
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President Trump and Chinese Vice Premier Liu He signed an initial trade deal on Wednesday that will roll back some tariffs and see China boost purchases of US goods and services, defusing an 18-month conflict between the world’s two largest economies.

“This is a very important and remarkable occasion. Today, we take a momentous step, one that has never been taken before with China, toward a future with a fair and reciprocal trade as we sign Phase 1 of the historic trade deal between the United States and China,” the...

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