WASHINGTON (AFP) — US President Donald Trump on Friday announced a partial trade deal with China after talks in Washington with Vice Premier Liu He.
Here are the main points of the agreement, which has yet to be signed.
Trump said he hoped to have a deal signed with President Xi Jinping “in four weeks, five weeks, something like that.”
The signing could take place in the middle of November in Chile on the sidelines of the Asia-Pacific Economic Cooperation summit.
“We have a fundamental understanding on the key issues… but there is more work to do,” Treasury Secretary Steven Mnuchin told reporters.
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“We will not sign an agreement unless we get, and can tell the president, that this is on paper.”
Mnuchin said Liu needed “to go back to do some work with his team, but we have made a lot of progress over the last two days,” signaling that approval from the highest level in Beijing would be sought.
Previous apparent breakthroughs have faced opposition in Beijing and seen a resumption of the trade war.
China has pledged to rapidly increase purchases of US farm goods to $40-50 billion a year — a sharp rise that would be more than double the level in 2017.
The two sides also agreed to deals concerning financial services and currencies, technology transfer, intellectual property and other matters.
