U.S., China Sign Phase One Trade Agreement
Posted On
January 22, 2020
The 96-page agreement signed on January 15 includes a commitment by China to purchase $200 billion more of U.S. goods - including hardwood lumber - and services, and an agreement to make new trade commitments. In return, the U.S. has agreed to cut tariffs in half, to 7.5%, on $120 billion of Chinese goods.
Resources:
- Trade Agreement (PDF), see pages 68 and 69 for HTS codes affected.
- USTR: Economic and Trade Agreement Between the Government of the United States and the Government of the People’s Republic of China, Fact Sheets
- Wiley: U.S. and China Conclude Phase One Trade Agreement
Official White House Photo by Shealah Craighead