WASHINGTON – The United States and China reached a trade deal Wednesday that eases tensions between the world’s two biggest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect American trade secrets. Trump promoted the trade signing as a way of delivering economic justice for American workers he claims have been betrayed by past administrations and their trade policies. That was the concern voiced when Trump sparked a trade war by imposing tariffs on Chinese imports in July 2018. The 86-page agreement makes it easier to bring criminal cases in China against those accused of stealing trade secrets. So far this year, the U.S. deficit with China in the trade of goods has declined by 16%, or $62 billion, to $321 billion compared with a year earlier.

Source: Philippine Daily Inquirer January 15, 2020 22:30 UTC