China To Purchase At Least $200Bln Of US Goods, Services Per Trade Agreement - Reports

China to Purchase at Least $200Bln of US Goods, Services Per Trade Agreement - Reports

The upcoming trade deal between China and the United States will include provisions making Beijing purchase about $200 billion worth of goods and services from the US, according to a Tuesday report by the South China Morning Post newspaper and the Politico website

MOSCOW (UrduPoint News / Sputnik - 14th January, 2020) The upcoming trade deal between China and the United States will include provisions making Beijing purchase about $200 billion worth of goods and services from the US, according to a Tuesday report by the South China Morning Post newspaper and the Politico website.

On December 31 2019, US President Donald Trump announced that the Phase One of the US-China trade deal was going to be signed on January 15.

China will have to purchase approximately $75 billion worth of manufactured goods, as well as $50 billion worth of energy, $40 billion in agriculture, and from $35 billion to $40 billion in services, the news outlets' sources say.

The Phase One trade deal will be a landmark step in settling the trade dispute between China and the United States, which accuses Beijing of unfair commercial practices. Since June last year, the two countries have exchanged several rounds of import duties and held subsequent talks to settle their trade-related disagreements.

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