President Donald J. Trump signed Phase One of the new US-China trade deal today. An elaborate ceremony at the White House marked the occasion. A bevy of official Washington, Big Business, and a delegation of Chinese led by their Vice Premier attended the signing. President Trump was in a jovial mood, poking fun at many of the American politicians and business leaders in the room. He even had some fun with Fox Business Channel star, "The Great Lou Dobbs"! Phase One of the new US-China Trade Deal will guarantee upwards of $225 Billion dollars of China purchasing U.S. exports. About $50 Billion dollars worth of agricultural products, energy, and services, along with some $75 Billion in manufactured goods. China will also crackdown on intellectual theft, counterfieting and ease forced technology transfers. They will also reduce their currency devaluation. America will maintain a 25% tarfiff on some $250 Billion dollars worth of Chinese imports into the United States. On another $350 Billion in imports, the current 10% tariff will be lowered to 7.5%. These tariffs will remain in place until the Phase Two trade deal is reached, which may not be till next year.
