US-China Trade War: Trump Confirms 'Very Large, Comprehensive' Deal Set For January 15

It looks like the U.S.-China trade war might finally be over. President Donald Trump himself announced that the signing of a trade deal between the two nations will be held in a couple of weeks at the White House.

Once the deal is sealed, it would signal the end of the nearly two-year trade war between the two largest economies of the world, The New York Times reported. However, Trump explained that the signing, which will take place on Jan. 15, will only cover Phase One of the trade deal.

“I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15,” Trump tweeted on Dec. 31. “The ceremony will take place at the White House. High-level representatives of China will be present.”

The POTUS did not specify the identity of the Chinese officials that will be coming over for the signing. It’s also unclear if his Chinese counterpart, Xi Jinping, will be among the high-level representatives from the country mentioned by Trump.

President Trump also hinted that signing the trade deal’s second phase might shortly follow after ironing out its details. In fact, he will be flying to the Chinese capital to lead the American delegates on the negotiations.

“At a later date, I will be going to Beijing where talks will begin on Phase Two!” Trump wrote on Twitter.

At the moment, the exact details of the deal’s Phase One are not yet known as the agreement has not yet been made public as it would still need to undergo legal and translation reviews, according to The Economic Times. However, the publication noted that it will contain “protections for intellectual property, food and farm goods, financial services and foreign exchange, and a provision for dispute resolution,” according to sources from both the U.S. and Chinese camps.

After the U.S. and China’s nearly two-year trade conflict, both parties suddenly announced the “Phase One” deal last December. Under the agreement, Trump would reduce a small portion of the tariffs that were imposed on $360 billion worth of Chinese products. In return, China would ramp up its purchases of American energy and farm products as well as enhance the protection of American firms doing business in China.