BEIJING — China expressed cautious optimism Saturday about a first-step trade agreement that dials down a trade war it blames the U.S. for starting. Chinese experts and news media joined government officials in saying the deal would reduce uncertainty for companies, at least in the short term. They remained cautious, saying both sides will have to show a willingness to compromise to resolve the more fundamental differences between them. The two countries announced a “Phase 1" agreement Friday under which the U.S. will reduce tariffs and China will buy more U.S. farm products. Chinese officials said the nine-chapter text, which includes intellectual property, technology transfer, financial services and dispute settlement, has to undergo legal and translation review before it can be signed.

Source: International New York Times December 14, 2019 08:35 UTC