US President Donald Trump and Chinese Vice Premier Liu He signed phase one of the trade deal in a major step toward defusing the 18-month-old conflict between the world's two largest economies.
"This is a very important occasion. Today we have taken an important step that has not been taken before with China and towards a future with fair and reciprocal trade, as we signed the first stage of the historic trade agreement between the United States and Beijing," Trump said during a White House press conference.
"Together, we are correcting the mistakes of the past and providing the future of economic justice and security to American workers, farmers, and families," the US president added, noting that China will buy more agricultural products and energy from the United States.
This partial deal is centered on China's pledge to buy additional US $ 200 billion in agricultural products and other goods and services for two years or more.
It also provides for China to submit a an Intellectual Property Rights Action Plan within 30 days of the entry into force of the agreement.
The deal also includes that American companies must be able to operate without any force or pressure and that technology transfer depends on market conditions that are voluntary and that reflect mutual agreement.
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