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China confirms trade deal with the U.S., averting new tariffs ahead of Sunday deadline

BEIJING - China and the United States have reached agreement on the text of a "phase one" trade deal, China's vice commerce minister said in a late-night press conference Friday, a day after President Donald Trump signed off on the deal.

The text includes nine chapters, including ones on intellectual property rights, technology transfer, food and farm products, financial services, exchange rates, and dispute resolution, Wang Shouwen said at the 11 p.m. press conference at the State Council Information Office in Beijing.

The Chinese and the American delegations will now carry out a legal review and check the translation as soon as possible, Wang told reporters. They will then make the arrangements for the formal signing of the agreement, he said.

Published : December 13, 2019

By :  The Washington Post · Anna Fifield