Derek Scissors, a China specialist at the American Enterprise Institute, said the trade war has already brought Trump an advantage, even though he hasn`t forced Beijing to make big changes to its economic policy: Trump`s tariffs have reduced Chinese exports to the U.S. and reduced America`s trade deficit with China. The government acknowledges that the agreement does not leave an answer to some U.S. complaints, including how the Chinese government subsidizes its companies. This is the concern that was expressed when Trump unleashed a trade war in July 2018 by imposing tariffs on Chinese imports. Left: U.S. President Donald Trump is Chinese Vice Premier Liu He after signing «Phase 1» of the U.S.-China trade deal on January 15, 2020 in the East Room of the White House in Washington, D.S. Photo by Kevin Lamarque/Reuters «We need to make sure this is properly implemented,» Lighthizer said. «This is the first deal of its kind, and we need to make sure it works.» Washington (AP) — The United States and China reached a trade deal Wednesday that eases tensions between the world`s two largest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect U.S. trade secrets.
House spokeswoman Nancy Pelosi, D-Calif, said in a statement that «with the economy losing thousands of manufacturing jobs and farm country stumbling from the damage caused by President Trump, Americans have nothing but a striking televised ceremony to try to hide the total lack of concrete progress, transparency or accountability in this `phase one` deal.» «The Phase 1 agreement contains reasonable commitments, but in no way meets the government`s original objectives,» said Wendy Cutler, a former U.S. trade negotiator who is now vice president of the Asian Society Policy Institute. Other Chinese concessions would force Bejing to make big changes to its state-dominated economic model, meaning that «the prospects for timely conclusion are low,» she said. The deal aims to ease some U.S. economic sanctions against China, while Beijing is to step up the purchase of U.S. agricultural products and other goods. Trump cited beef, pork, poultry, seafood, rice and dairy as examples. U.S. trade officials said the deal would end a long practice in which China pressures foreign companies to transfer the technology to Chinese companies as a precondition for market access. Lighthizer said China has also agreed to fight patent theft and counterfeit products, which would involve the loss of machinery to make counterfeit products. . .