China will send its vice premier, Liu He, to the US to sign the Phase One deal, Ministry of Commerce spokesman Gao Feng says. The ministry’s statement was the first official confirmation.
Reportedly, Liu He will visit Washington from January 13 to 15. In addition, the vice-premier will be the leader of Chinese delegations for the China phase one deal historic meeting.
The Chinese delegation will include 10 officials. Among them are Zhong Shan, minister of commerce, Yi Gang, governor of the People’s Bank of China, Liao Min, vice-minister of finance and Zheng Zeguang, vice minister of foreign affairs, and China’s ambassador to the US, Cui Tiankai, according to Reuters.
Prior to the event, Gao also said that negotiating teams from both countries remain in touch on the arrangements. It is, accordingly, regarding the signing of the Phase One deal between China and the US that should have happened last year.
US President Donald Trump, additionally, hints that the signing will take place on January 15. However, there are no further details pertaining to the script so far.
Also Read: Vietnam Wins US-China Trade War
What Will Happen Following US-China Phase One Trade Deal
According to the deal, China will be expected to make a purchase on more US agricultural products and adjust its industrial policies. This is regarding allegations over unfair trade practices, intellectual property violation and unfair advantages for Beijing’s state-owned enterprises.
Despite everything, reaching a final deal might take years, analysts argue. Furthermore, there exist possibilities that a novel trade conflict will escalate in the future once the agreement takes effect.
The US, moreover, adds up that the trade deal will proceed smoothly if China keeps its promises. Considering China’s stance, the country will not likely to ‘bow down’ to Washington so easily.
Apart from the uncertain updates, President Donald Trump states that he will attend the signing in person. Also, he promises to fly to China soon to discuss the next phase.
