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China and US Sign Phase One Economic and Trade Agreement

China and the US formally signed their phase one economic and trade agreement on 15 January 2020, with Chinese Vice Premier Liu He and US President Donald Trump inking the papers in the White House. Liu, who is also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-US comprehensive economic dialogue, said the trade deal is good for both China and the US, and conducive to the world.

Liu met with the head of the International Monetary Fund and US business leaders in Washington on 14 Jan. Liu said China and the US have reached a phase one economic and trade agreement on the basis of equality and mutual respect. That is beneficial to China, the US and the whole world, he said, adding that its significance is not only in the field of economy and trade, but also in safeguarding world peace, stability, and prosperity. As two major responsible countries, China and the US, despite their different ideologies and different political and economic models, are fully capable of cooperating with each other for mutually beneficial development. After signing the agreement, the two sides should make joint efforts to implement it and obtain tangible results, he added.

Source: State Council / Xinhua

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