MOSCOW (Pakistan Point News / Sputnik - 13th December, 2019) US Trade Representative Robert Lighthizer and Chinese Ambassador to the United States Cui Tiankai may sign the draft bilateral trade deal on Friday, The Wall Street Journal reported.
On Thursday, media reported that the US and Chinese negotiators had agreed in principle on the terms of the phase-one trade deal.
According to The Wall Street Journal, Lighthizer and Cui may sign at least the outlines of the agreement.
Media reported that under the deal China had committed to buy more US agricultural products, protect intellectual property and open the Chinese market for financial services. The United States has reportedly agreed to cut tariffs imposed on Chinese imports since last fall and defer new duties that could have been imposed this Sunday.
According to Michael Pillsbury, an informal White House adviser on China, the phase-two deal that will focus on the Chinese industrial policy will be negotiated after the 2020 US presidential election.
