US and China sign phase one of trade pact
‘This deal will work if China wants it to work’
Washington — The US and China signed what they are billing as the first phase of a broader trade pact on Wednesday amid persistent questions over whether President Donald Trump’s efforts to rewrite the economic relationship with Beijing will ever go any further.
The deal commits China to do more to crack down on the theft of US technology and corporate secrets by its companies and state entities, while outlining a $200bn spending spree to try to close its trade imbalance with the US. It also binds Beijing to avoiding currency manipulation to gain an advantage and includes an enforcement system to ensure promises are kept...
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