The US and China finally reached an agreement on a trade deal earlier this month. After months of negotiating and ups and downs, this deal is getting closer to its final version. The deal is not complete, but the first phase is over, and both Donald Trump and Xi Jinping will sign it in the coming weeks. Trump stated that he would organize a ceremony for this signing as this trade deal has immense significance for both countries.
According to the US President, the deal is finalized, and it’s being translated at the moment. He wants it to be signed as soon as possible by both parties involved because it brings prosperity both to America and China. At the moment, presidents of both countries have obligations, but they will get together to sign this deal as soon as possible, says Trump.
Robert Lighthizer, United States Trade Representative, said a couple of weeks ago that the first phase of the trade deal would be signed in the first week of January.
Geng Shuang, the spokesman for the Chinese Foreign Ministry, said that both countries put a lot of effort into the deal, and worked together in making it happen. He added that representatives of both sides are in everyday contact to ensure everything is right for the day of signing of the main document and the follow-up paperwork.
US officials released parts of the deal, unlike their Chinese counterparts. At the moment we couldn’t get in touch with the Chinese side. As of now, they have not made any comments regarding the deal. The Chinese team is waiting for the transaction to become official before releasing even the smallest details.
This deal comes at the right moment for Trump. It was long expected, and now that Trump is losing support in the US, this might be a big part of his legacy. It could even bring him another mandate. That is if he doesn’t get impeached.