Subject: President Donald J. Trump Has Secured a Historic Phase One Trade Agreement with China

The White House
Office of the Press Secretary
FOR IMMEDIATE RELEASE
December 13, 2019


** PRESIDENT DONALD J. TRUMP HAS SECURED A HISTORIC PHASE ONE TRADE AGREEMENT WITH CHINA

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“We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more.” – President Donald J. Trump
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** NEGOTIATING A HISTORIC AGREEMENT: President Donald J. Trump has reached a historic phase one trade agreement with China.
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* As a result of President Donald J. Trump’s leadership, the United States reached a historic and enforceable phase one agreement with China that achieves progress on a number of critical fronts.
* China has agreed to structural reforms in areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.
* The agreement includes a strong dispute resolution system to ensure effective implementation and enforcement.
+ As a result, we will be able to ensure full enforcement of this phase one agreement and the reforms it includes.
* As a part of this agreement, the United States has agreed to significantly modify its Section 301 tariffs.
* These successful phase one negotiations have begun important progress towards rebalancing our trade relationship with China.

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SECURING A TREMENDOUS VICTORY: This historic agreement is a tremendous victory for the American economy – especially American farmers, manufacturers, and innovators.
* This phase one agreement will greatly benefit both the American economy and the global economy as a whole.
* The agreement will deliver an incredible boost to American manufacturers, service providers, farmers, and more.
* American businesses will benefit from stronger intellectual property protection and technology transfer reforms.
+ The first steps included in this agreement will provide protections for American innovators and inventors.
* China has agreed to make substantial purchases of American manufacturing goods, agricultural products, energy products, and services, marking a monumental win for American farmers and businesses.

WORKING FOR FAIRER TRADE: President Trump continues to deliver on his promise to negotiate better trade deals for the American people.
* President Trump has experienced incredible success in negotiating better trade deals that benefit American workers and industries.
* The President renegotiated NAFTA and is replacing it with the USMCA – the largest and most comprehensive trade agreement in history.
* Earlier this year, the President scored a huge victory for America’s farmers and businesses by striking two new trade agreements with Japan on agricultural exports and digital trade.
* The President has renegotiated the United States-Korea Free Trade Agreement, preserving American jobs and leveling the playing field for the American automobile industry.

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