'Skinny' trade deal leaves U.S., China starving for Phase 2

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The phase one deal is “another significant step forward in advancing President Trump’s economic agenda,” Treasury Secretary Steven Mnuchin said in a statement. The agreement “marks critical progress toward a more balanced trade relationship and a more level playing field for American workers and companies."

As part of the initial agreement, China committed to purchasing $50 billion of U.S. crops, increasing intellectual-property protections and ending the manipulation of its currency, the yuan.

In return, the U.S. will halve the 15 percent tariffs on $120 billion of Chinese goods and will not put in place the 15 percent tariffs that were set to hit $160 billion of Chinese goods on Sunday. Duties of 25 percent on $250 billion of Chinese imports will remain.

https://www.foxbusiness.com/markets/chi ... trade-deal