US President Donald Trump’s top trade negotiator praised a “phase one” US-China trade deal which is expected to nearly double US exports to China over the next two years, while China remained cautious ahead of the signing of the agreement, reported Reuters.
The deal, announced on Friday after more than two and a half years of on-and-off negotiations between Washington and Beijing, will reduce some US tariffs on Chinese goods in exchange for increased Chinese purchases of US agricultural, manufactured and energy products by some $200 billion over the next two years.
“Make no mistake about it: the deal is done, the deal is completed,” Kudlow told reporters at the White House. “The deal is absolutely completed.”
But while US officials have touted the deal, Chinese officials have been more cautious, emphasizing that the trade dispute has not been completely settled.