Washington Update

Coronavirus, so far, not expected to impact purchase commitments

Yesterday, President Trump spoke with China’s President Xi Jinping about the novel coronavirus and “agreed to continue extensive communication and cooperation between both sides,” according to the White House readout. Though the leaders also reportedly affirmed their commitment to implement the recent Phase One trade agreement, the impact of the virus on China’s economy has raised concerns about...

Phase One still sinking in

This week, President Trump touted the administration’s recently concluded trade deals, the Phase One trade agreement with China and the US-Mexico-Canada Agreement (USMCA), during a speech at the World Economic Forum in Davos, Switzerland. He also signaled US readiness to renew talks on reforming the World Trade Organization (WTO), which no longer has a functioning dispute settlement mechanism largely due to actions of the United States. Despite support for...

“Phase one” deal around the corner

The United States and China are expected to finalize a preliminary “phase one” trade deal this month. On Tuesday, President Donald Trump said he plans to sign a “large and comprehensive phase one trade deal with China on January 15” at the White House. High-level Chinese representatives will also attend, according to Trump, and will likely include China’s Vice Premier and chief trade negotiator Liu He. It is unknown who on the China side will sign...

Partial trade agreement expected today

The United States and China have reached an interim “Phase One” trade agreement. The Office of the United States Trade Representative (USTR), President Trump, and China’s Ministry of Commerce have confirmed the initial agreement includes improved intellectual property rights (IPR) protections, as well as commitments on technology transfer, agriculture purchases and structural reforms, financial services, and currency and foreign exchange, in...