China and the US agree on the text of the first part of the trade agreement

The United States and China agreed on the first part of the trade agreement, it consists of nine points, Deputy Commerce Secretary Wang Shouwen said at a press conference on Friday.

China and the US agree on the text of the first part of the trade agreement

“The United States and China, on the basis of equality and mutual respect, agreed on the first part of the trade agreement, it consists of nine points, including intellectual property protection, technology transfer, agriculture and food”, – said Wang Shouwen.

Earlier, the Wall Street Journal, citing an informed source, said that US Trade Representative Robert Lighthizer and Chinese Ambassador in Washington Tsui Tiankai could sign a draft trade agreement between the two countries on Friday.

According to the Wall Street Journal, Lighthizer and Tsui Tiankai on Friday will sign if not the draft agreement itself, then at least its main provisions. According to media reports, the agreement provides for the abolition of a new round of duties on Chinese imports, which were supposed to enter into force on December 15. It is also expected to reduce the already imposed duties of 360 billion dollars to two times. In exchange, Beijing must fulfill a number of requirements, including an increase in China’s purchase of US agricultural and other goods.

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