Market news
13.12.2019, 15:32

China says first phase of trade deal with U.S. agreed

  • Says first phase of trade negotiations achieved major progress
  • An agreement has been reached on text
  • U.S. will follow up on promise to cancel tariffs on a phased basis
  • Deal to protect Chinese firms' legal interests in dealing in U.S.
  • Trade deal to boost confidence of global markets
  • Both sides agree to complete last stages as possible including translation and legal review of deal as soon as possible
  • Two sides agreed to negotiate on specific arrangement for a signing ceremony
  • China has decided to cancel tariffs scheduled to take effect on Sunday
  • China hopes U.S. to follow up on its promises
  • China to import U.S. wheat, rice and corn within quotas
  • Are talking about timing, place and details of signing deal


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