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Trade Agreement is Closer to Signing

A phase one trade deal between the U.S. and China is expected to be signed within a matter of days. While President Trump and Chinese President Xi are expected to participate in a signing ceremony, details have not been announced. The South China Morning Post says Chinese Vice Premier Liu He will be in Washington, D.C. this Saturday and the trip is expected to continue into the middle of next week. In an interview with Chinese state television, China’s ambassador to the United States, Cui Tiankai, said China will honor its commitments in the phase one trade agreement. However, the ambassador said the U.S. must respect China’s sovereignty over Taiwan.

USMCA Deal Reached

The United States, Mexico and Canada reached a deal on tweaks in labor and steel and aluminum provisions in the U.S.-Mexico-Canada Agreement. “There’s no question this trade agreement is much better than the North American Free Trade Agreement, but in terms of our work here it’s infinitely better than what was initially proposed by the administration,” said House Speaker Nancy Pelosi. “It’s a victory for America’s workers and one I take pride in advancing.”
 
Mexico’s Senate has approved the changes made to the U.S.-Mexico-Canada Agreement. On a 107 to 1 vote, Mexico is the first country to ratify the modified trade deal. Now, the USMCA needs approval from U.S. and Canadian lawmakers. The trade deal could come to the U.S. House floor next week for ratification.

U.S. and Japan Roll Out a Trade Agreement

During the United Nations General Assembly in New York, President Donald Trump and Japanese Prime Minister Shinzo Abe announced the first stage of the new trade agreement between the U.S. and Japan. This agreement levels the playing field in terms of market access for certain agriculture and industrial goods, as well as on digital trade. In the next two weeks, the two countries will work out more details. The first stage of the agreement is expected to be finalized by January 2020.

U.S.-Japan Trade Agreement Fact Sheet