China deal may get praise from officials of Trump

Recently, the Trump administration went for a trade deal with China. As they sign the agreement, the officials of Trump administration predicting about the gains from these deals. The loss of the economy that is going on for the last 19 months will get to see some benefits. The loss that the economy faces due to that may not be easy to make up with this deal. 

What the trade negotiator state about the Chine deals?

As they announce the deals with China, on Sunday, the trade negotiator of Trump administration opens up about it. The negotiator said that the agreement that exists between the two countries is to make things work on intellectual property, financial services, and currency as well. 

He additionally states that these deals will be a good one for the future. For all these, it predicts that the American exports would get double with China by the year 2021

The negotiator, Robert Lighthizer, who is here for this agreement, state that it is the first phase only. There are several other phases too that need to look for getting a victory on it.

How is the reaction to the deal?

 As the deal announcement was now has taken place on Sunday, so all big and medium business groups welcome this move. They have appreciated the first phase trade pact with China and said that this might be leading to low tensions between the countries. As per Lightizer, after the deal, he predicts that the purchase of the Chinese products by Americans will rise by nearly $100 billion per year. But the agreement may get ink in January and will come to effect after that.

But with all these deals, the pact for the economy comes at a high cost in the name of tariffs. They are levied on China so that they will accept the agreement from America.

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