Trump applauds US-China deal, says will ensure 'fair, reciprocal trade'

US President Donald Trump praised signing of 'phase one' of tre deal with China and called it “momentous moment” on January 15. In a statement me after ceremony at White House, Trump said that step has “never taken before with China”. deal indicates a de-escalation in tariff war pitting world's largest ecomies against each or for nearly two years. As a part of accord, China would purchase $200 billion worth of ditional American products over a period of two years which according to Trump is “righting wrongs of past”. According to  US President, new development with China will ensure “fair and reciprocal tre”.

Trump has been accusing China of indulging in unfair tre practices contributing to huge tre deficit amounting to nearly $375 billion. US President h reportedly warned China that if a deal is t reached by March 1, US will increase tariffs on $200 billions of goods from 10 per cent to 25 per cent. Trump has been demanding Beijing to drastically reduce tre deficit and ensure intellectual property rights production for US techlogy and services.

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US-China 'Phase one' deal 

However, deal would roll back some tariffs and Trump reportedly said that it would include ditional orders for US agricultural products worth $50 billion. US President furr ded that he was confident his country's farmers would be able to meet increase in demand. China would also reportedly buy $75 billion more in manufacturing goods, and $50 billion more worth of energy supplies. 

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deal which has been touted by officials of both countries will usher a new era for US-China relations. However, it reportedly failed to dress several structural differences that motivated Trump ministration to start imposing tariffs on China in first place. Apparently, se disagreements include Beijing's long-standing practice of holding-up state-owned companies and flooding international markets with goods at a lower price. 

As per international reports, countries believe phase one agreement has dressed issues including techlogy transfer, intellectual property, tre expansion, along with establishment of mechanisms to resolve dispute. While China has called for a rollback of existing taxes, American officials want an increase in purchases of US farm exports. 

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