NEW: The U.S. and China have agreed on a trade deal that requires structural reforms to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.
The deal also includes a commitment by China to future purchases of U.S. goods and services, plus—very important—a strong dispute resolution system that ensures prompt and effective implementation and enforcement.
The United States has agreed to modify its tariff actions on China, but will maintain 25% tariffs on approximately $250 billion of Chinese imports and 7.5% tariffs on approximately $120 billion of Chinese imports.
This is yet another historic win on trade for President @realDonaldTrump—and, most important, it's an incredible deal for both sides!
