Well, just in time for the reelection campaign to begin. Looks like he got some concessions from the Chinese. But what he needs in manufacturers and farmers who are hurting to find some buyers on the other side of the Pacific.
According to the Washington Examiner:
President Trump will sign on Wednesday “phase one” of a trade deal with Beijing, giving the president a partial victory on one of the main economic policy efforts of his administration. China is expected to purchase more than $200 billion in U.S. goods and services as part of the deal.
Several issues remain unresolved, however, and getting a follow-up trade deal is uncertain with the 2020 election looming.
Treasury Secretary Steven Mnuchin said Wednesday that finishing the first part would put pressure on China to address the remaining issues in order to get the U.S. tariffs lifted.
The White House has claimed that “phase one” covered many of the trade disputes that originally led the Trump administration and many in Congress to favor a confrontation with China, such as financial services, currency manipulation, intellectual property rights, and forced transfers of technology, among other subjects.
China is expected to purchase between $40-$50 billion in U.S. farm goods. White House economic adviser Larry Kudlow said Wednesday that China would also buy $40 billion in services, $50 billion in energy products, and between $75 billion to $80 billion worth of manufacturing goods.