US-China phase one trade deal is ‘modest but helpful’, say business leaders
- American executives briefed by White House officials say the agreement includes better intellectual property protection and progress on agriculture exports
- One business source says it is the first time ‘we have something to applaud in the US-China relationship’
US business executives say a broad outline of the phase one trade deal with China coming into focus includes some advances in intellectual property protection, big-ticket farm purchases and a reduction in barriers to exports.
“The agreement seems modest but nonetheless directionally helpful,” said a trade consultant briefed on aspects of the agreement. “The best thing still is that we have a path toward not accelerating tariffs further this year.”
Executives cautioned that they had not seen the text of the agreement although they had been briefed in some detail by government and White House officials.
“For the first time, we have something to applaud in the US-China relationship,” said one executive briefed by Trump administration officials. He and others declined to be identified over concerns it could hurt their standing with the administration.
They added that they did not expect to see anything in writing before a scheduled signing ceremony on Wednesday between US President Donald Trump and Chinese Vice-Premier Liu He.