BUSINESS Chinese Vice Premier Liu He to visit Washington for phase one deal

BUSINESS

Chinese Vice Premier Liu He to visit Washington for phase one deal

By Wang Zi and Wang Xiangyu | People's Daily app

15:23, January 09, 2020

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Chinese Vice Premier Liu He will visit Washington from January 13-15 for the phase one trade deal on the invitation of the United States, China's Ministry of Commerce spokesperson Gao Feng announced on Thursday.

China and the United States agreed on the text late last year of a phase one economic and trade agreement based on the principle of equality and mutual respect.

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(File photo: VCG)

The text includes nine chapters: the preface, intellectual property rights, technology transfer, food and agricultural products, financial services, exchange rate and transparency, trade expansion, bilateral assessment and dispute settlement, and the final terms, according to a statement issued by the Chinese side last year.

Both sides reached consensus that the US side will fulfill its commitments to phase out its additional tariffs on Chinese products to achieve a switch from raising to cutting additional tariffs.

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