Trade Cases
January 15, 2020
U.S., China Sign Phase One Trade Deal
Written by Tim Triplett
In a concession to the Chinese as part of the phase one trade agreement signed Wednesday by President Trump and China’s Vice Premier Liu He, the U.S. will cut Section 301 duties on $120 billion in Chinese goods in half, from 15 percent to 7.5 percent, effective Feb. 14. China has agreed to increase its purchases of U.S. products by $200 billion over 2017 levels.
Trade issues with the Chinese are ongoing, however. The U.S. will maintain 25 percent tariffs on another $250 billion of Chinese products. China will maintain retaliatory tariffs on some U.S. goods.
