U.S. And China Sign Preliminary Trade Deal

The transcript discusses a historic trade deal between the US and China aimed at resolving a two-year trade war. The deal includes China's agreement to purchase $200 billion in US goods and tighten intellectual property rules, while the US delays new tariffs and reduces some existing ones. However, significant tariffs remain, and future tariffs could be imposed if China fails to comply. The US removed China from its currency manipulator list, a move that previously heightened tensions. Future semiannual meetings are planned to address ongoing economic disputes.

What was the primary goal of the phase one trade deal signed between the US and China?

• To promote cultural exchange programs

• To reduce immigration between the countries

• To establish fair and reciprocal trade

• To increase military cooperation

As part of the trade deal, what did China agree to do?

• Reduce its military presence in the South China Sea

• Purchase $200 billion worth of US goods

• Increase tariffs on US goods

• Ban US agricultural products

What action did the US take regarding tariffs as part of the trade deal?

• Delay new tariffs and cut some existing ones

• Eliminate all tariffs on Chinese goods

• Increase tariffs on European goods

• Ban all Chinese imports

Who are the key figures managing the US-China trade talks moving forward?

• Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He

• The US President and Chinese President

• The US Trade Representative and Chinese Ambassador

• The US Secretary of State and Chinese Foreign Minister

Why was China removed from the US list of currency manipulators?

• As a symbolic gesture

• To escalate trade tensions

• Because it strengthened its currency

• To improve diplomatic relations