Trump and China Sign Phase One Trade Deal With $200 Billion Purchase Commitments

President Trump and Chinese Vice Premier Liu He signed the Phase One trade agreement at the White House, committing China to purchase an additional $200 billion in U.S. goods over 2017 levels across manufacturing, energy, agriculture, and services. The 96-page deal included provisions on intellectual property, forced technology transfer, and currency manipulation, while the U.S. agreed to halve List 4A Section 301 tariffs from 15% to 7.5%. China ultimately fell short of its purchase targets as COVID-19 disrupted global trade.