Common Contracts
1 similar Phase One Trade Agreement contracts
February 4, 2020Phase One Trade Agreement • February 4th, 2020
On January 15, 2020, President Donald Trump and China’s Vice Premier Liu He signed a “Phase One” trade agreement. It forms part of an effort to resolve trade tensions that have been ongoing since March 2018, when the Office of the U.S. Trade Representative (USTR) published its Section 301 investigation into China’s trade- distorting practices.1 The deal includes commitments by China to purchase an additional $200 billion worth of U.S. products over 2017 levels in four sectors (manufactured goods, services, agricultural products, and energy) over the next two years.2 China also made new promises not to manipulate its currency,* protect foreign intellectual property (IP), and refrain from forcing foreign companies to transfer technology.
