U.S., China Sign Phase 1 Trade Deal
January 15, 2020
President Trump and China’s Vice Premier Liu He signed the Phase 1 trade deal which includes provisions on intellectual property, financial services, and large purchases of agriculture products.
AAEI announced that while it is pleased that the agreement is signed, its leaders will be scrutinizing the text to assess the impact of the agreement on its members.
“We are concerned that tariffs continue to be used as an enforcement mechanism,” says AAEI President and CEO Marianne Rowden, “and that high tariffs are becoming the new normal in U.S. trade policy. AAEI stands for free trade.”
The Trump Administration says it intends to keep the remaining tariffs on goods from China as a negotiating tool for the next phase of the trade deal. Meanwhile, AAEI will be following the implementation of the Phase 1 deal closely.
AAEI’s committee co-chairs are reviewing the text of the Phase 1 deal to assess the impact on AAEI members.