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U.S.-China "Phase One" Trade Deal

Alert January 17, 2020

U.S.-China "Phase One" Trade Deal

January 17, 2020, Covington Alert

On January 15, 2020, President Trump and Chinese Vice Premier Liu He signed the much-anticipated “Phase One” trade agreement between the U.S. and China. Set to take effect no later than February 14, 2020, the “Economic and Trade Agreement Between the United States of America and the People’s Republic of China” (the “Agreement”) is the first formal accord concluded between the U.S. and China since the U.S. began imposing tariffs on Chinese imports in July 2018 and China responded in kind, triggering protracted negotiations buffeted by additional rounds of tariffs.

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