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Phase One trade deal will be signed on Jan. 15 at the White House

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Phase One trade deal will be signed on Jan. 15 at the White House

The US president Donald Trump stated that he would sign the much awaited ‘Phase One’ deal on January 15 at the White House.

In a tweet Tuesday morning, the president stated that “high level representatives of China” will attend the signing and he expects to travel to Beijing later.

“I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15. The ceremony will take place at the White House. High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!”, tweeted Trump.

When asked which top Chinese officials will be present at the signing, The White House did not immediately respond to comment on it. According to reports this week, Chinese Vice Premier Liu He, Beijing’s top trade negotiator, could sign the agreement.

The world’s two largest economic giants initiated a partial trade deal earlier this month in order to dial down the brewing trade war that heavily affected industries. Under the agreement, Washington agreed to cut off some new tariffs and reduce rates for other duties, and China stated that it would buy more U.S. agricultural products, which also includes changes related to intellectual property and technology.

(Reference CNBC)