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1/15, 6:58 PM (Source: TeleTrader)
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USTR: Trade deal to come into effect 30 days from today

United States Trade Representative Robert Lighthizer revealed on Wednesday that agreement that was signed today will come into effect 30 days from now. A "phase two" trade deal with the US will be required for China to obtain additional tariff cuts, he underlined.

While speaking earlier at the official phase one deal signing ceremony, he stressed that "the imperative is" that the US "develops trade and economic rules and practices" in trade relations with China.

The aim of the rules would be enabling both countries to "prosper." The trade accord is the outcome of "two years of hard work" and is a "big step forward," Lighthizer said.

Breaking the News / MS