Saturday, October 12, 2019

U.S. and China reach a trade deal

United States President Donald Trump announced late Friday that a limited trade deal has been reached with China.

There were few details and the wording of the deal remains to be worked out over the next couple of weeks.

The deal is mainly about China buying U.S. agriculture products.

The main trade irritants remain outstanding, including U.S. demands on intellectual property rights and technology theft.

According to Trump, China has agreed to purchase $40-50 billion in U.S. agricultural products annually. 

The most the U.S. has sold before was #15 billion a year, and this year it’s going to be about $8 billion.