The president claimed that under the agreement, China will make “massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more.”
We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder….
— Donald J. Trump (@realDonaldTrump) December 13, 2019
However, the 25 percent levies on around $250 billion worth of Chinese goods will remain in place, and the planned 15 percent duties on $160 billion of Chinese consumer products will be unaffected by the deal. Certain other existing tariffs on $120 billion in Chinese goods will be rolled back from 15 percent to 7.5 percent.
Negotiations on phase two of the deal will begin immediately, Trump added.
Read more: rt