US, China Reach 'Substantial Phase One' Trade Deal, Trump Says

President Donald Trump speaks after a signing ceremony for a trade agreement with Japan in the Roosevelt Room of the White House Monday Oct. 7 2019 in Washington

Donald Trump to meet with China’s top trade negotiator

"The Chinese side has come with great sincerity and is willing to make serious exchanges with the USA on issues of common concern such as trade balance, market access and investor protection, and promote positive progress in the consultations", Liu said.

Chinese Vice Premier Liu He met with US Trade Representative Robert Lighthizer and Mnuchin on Friday.

"National security hawks in the US are determined to show that no trade agreement will stop the USA from confronting China on other issues in the relationship, including technology competition, Hong Kong, Taiwan and the South China Sea", they said in a report.

In the Oval Office, Chinese Vice Premier Liu He gave a positive yet more measured review of the agreement.

If the deal comes to fruition, it would provide a much-needed salve on the wounds of the USA agriculture sector, a key Trump constituency that has suffered as China has thrown counter-punches to Trump's tariffs.

Stocks are closing sharply higher Friday as the USA and China reached a partial deal on trade and said they would continue negotiating.

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US President Donald Trump expressed optimism on Thursday after the first in two days of trade talks with a Chinese envoy. -China tensions and suspend Trump's plans to raise existing tariffs on Chinese goods and impose new ones.

"A final deal must address the full scope of structural issues identified in USTR's Section 301 report and include strong enforcement mechanisms", Grassley said.

'The two parties had an honest, highly efficient, and constructive discussion in economic and trade issues, under the important guidance from the presidents of both countries, ' it said.

Also looming on December 15 is a proposed 15 per cent tariff on $156 billion in Chinese goods, including smartphones and other consumer goods.

As a sign of goodwill, China has plans to increase its purchases of U.S. agricultural products, but the move falls far short of Trump's demands.

There's still a lot that's not clear about what has been agreed upon that has farm industry leaders and lawmakers wanting to know more.

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"Both sides have been losing, and so has the global economy", said Myron Brilliant, head of worldwide affairs at the US Chamber of Commerce.

In 2017, before the trade war started, China imported US$19.5 billion of USA farm output, falling to just over US$9 billion in 2018.

Also as part of the deal, Trump will look at the blacklist of Chinese companies to determine what companies "should be on the list", he said.

Trump did not provide details and said that the accord has yet to be put in writing. "While there remains significant work ahead to address numerous most important USA trade and investment priorities, we will continue to lend our full support".

"For businesses this will mean less damage, not greater certainty", Daco said in a research note.

"Finally, a ray of hope for the U.S".

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L'un comme l'autre ont d'ailleurs préféré se cacher sous leur bureau afin de ne pas être associé avec la déclaration du joueur. Cela pourrait me causer beaucoup de problèmes, même ma sécurité personnelle, dans la vraie vie.

Beijing has been reluctant to make the kind of substantive policy reforms that would satisfy the administration.

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