10/11/2019, 9:40 PM (Source: TeleTrader)
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Trump: 'Substantial phase one' deal was reached

Structural agricultural segments are included in a bilateral agreement with China "in principle," United States President Donald Trump said on Friday. He claimed the two sides have passed "phase one" and that the deal is "substantial" but that it would be drafted in up to five weeks. The arrangement has covered transparency in foreign exchange policy, in his words.

Trump said the area of financial services "is almost complete" and that there was "progress" regarding technology transfers. Speaking in the White House after a meeting with China's Vice Premier Liu He, he asserted the segment would be further worked on in "phase two" and that the talks would start immediately after signing. There could also be a phase three, he said.

The government in Beijing agreed to buy agricultural products from the US at a rate of $40 billion to $50 billion, the president stated and called the solution "tremendous."

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