US, China Deal Aims to Simmer Long-Running Trade Tensions
The United States and China have signed what's being called a first phase trade agreement aimed at lowering tensions in the long-running dispute between the world's two biggest economies.
The deal signed at the White House on Wednesday by President Donald Trump and Chinese Vice Premier Liu He is expected to boost exports from U.S. farmers and manufacturers and protect American trade secrets.
But the agreement leaves unresolved many of the complaints voiced by the Trump administration when it started the trade war by imposing tariffs on Chinese imports in July 2018.
Chief among those complaints is the way the Chinese government subsidizes its companies.