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President Donald J. Trump is Signing a Landmark Phase One Trade Agreement with China

Issued on: January 15, 2020

"From day one, my Administration has fought tirelessly to achieve a level playing field for the American worker."
President Donald J. Trump

SIGNING A LANDMARK PHASE ONE TRADE AGREEMENT: Today, President Trump is signing a new, fully-enforceable Phase One Trade Agreement with China.

• President Trump is making good on his promise to fix the failed policies of the past and deliver fairer trade for the United States.
• This historic agreement will begin to rebalance our vital trade partnership with China and benefit both of our countries.
• The signing of this agreement will be an incredible boost for American businesses, farmers, manufacturers, and innovators.

ENACTING CRITICAL REFORMS: China has agreed to make significant structural reforms in a wide range of critical areas.

• This agreement will help level the playing field for America’s innovators to compete and win.
• Importantly, the reforms included in the agreement are fully enforceable and include a strong dispute resolution system to ensure effective implementation and enforcement.
• For the first time in any trade agreement, China agreed to end its practice of forcing foreign companies to transfer their technology to Chinese companies in order to gain market access.
• China will address numerous longstanding intellectual property concerns in the areas of trade secrets, trademarks, enforcement against pirated and counterfeit goods, and more.
• China agreed to strong commitments on currency practices regarding currency devaluations and exchange rates.
• The agreement addresses a wide range of trade and investment barriers that have prevented American financial services companies from being able to compete in China.
• The agreement addresses structural barriers that have unfairly limited United States food and agricultural exports.
• The agreement includes significant commitments by China on accepting United States agricultural biotechnology products.

REBALANCING TRADE: This agreement will begin rebalancing our trade relationship with China and provide new opportunity for American businesses and farmers.

• As a part of the new agreement, China has pledged to increase imports of American goods and services by at least $200 billion.
• China’s increase in United States imports will take place over the next 2 years, and the trajectory is expected to continue even after 2021.
• This increase will make important progress in rebalancing the United States-China trade relationship.
• China will be making purchases of United States manufactured goods, agriculture, energy, and services under this deal.
• China has agreed to purchase between $40 and $50 billion in American agricultural goods each year for two years – providing a massive boost to America’s hardworking farmers.

source: https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-signing-landmark-phase-one-trade-agreement-china/?utm_source=link

extended reading:
Remarks by President Trump at Signing of the U.S.-China Phase One Trade Agreement
What deals are in the U.S.-China trade pact signed Wednesday? Read the full text
Trump Signs China Trade Deal, Putting Economic Conflict on Pause

references:

1. landmark: (1) noun. something that is easy to recognize, such as a tall tree or building, and that helps you know where you are (2) adj. a landmark agreement, decision, settlement etc is one that is very important and influences how other things develop
2. a level playing field: a situation in which different people, companies, countries etc can all compete fairly because no one has special advantages
3. fully-enforceable: 完全执行的 This is not an enforceable contract.
4. make good on: to do something that you have promised or threatened to do He made good his promise. 美国英语常加on，如He made good on his promise.及They made good on their threat and forced the company to go out of business.
5. historic agreement: a historic event or act is very important and will be recorded as part of history 注意与historical的区分
6. enact: to make a proposal into a law
7. dispute resolution system: 争端解决机制
8. end the practice of doing: 结束某种做法 practice: the way people do a particular job, activity etc, especially one which is done often
9. address: if you address a problem, you start trying to solve it. address a problem/question/issue etc
10. pledge to: to make a formal, usually public, promise that you will do something. pledge to do something/pledge something/pledge that etc
11. trajectory: (formal) the events that happen during a period of time, which often lead to a particular aim or result
12. purchase: making purchases of United States manufactured goods, & purchase between $40 and $50 billion in American agricultural goods注意purchase用法

[Video]Trump Describes China Trade Deal as ‘Righting the Wrongs of the Past’

Transcript:
Today we take a momentous step, one that has never been taken before with China toward a future of fair and reciprocal trade, as we sign phase one of the historic trade deal between the United States and China.

Together we are righting the wrongs of the past, and delivering a future of economic justice and security for American workers, farmers and families.

And this is going to be a great agreement for both countries. It’s far greater than $200 billion, and it’ll grow every year. It also unifies the countries.

references:
1. momentous: a momentous event, change, or decision is very important because it will have a great influence on the future
2. right a wrong: to do something to prevent a bad situation from continuing. He seems to think he can right all the wrongs of the world.

source:
https://www.nytimes.com/video/us/politics/100000006923061/trump-china-trade.html

https://v.bizedu.net/video/90/trump-describes-china-trade-deal-as-righting-the-wrongs-of-the-past

[Video]President Trump Signs Phase One Trade Deal with China
美国白宫一月十六日发布的官宣视频——与中国签署第一阶段贸易协定

Transcript:

For decades, American workers, farmers, ranchers, manufacturers, and innovators have been hurt by the unfair trade with China.

Politicians ran for office promising action to remedy these practices, only to do nothing but allow them to continue.

Unlike those who came before me, I kept my promise. In June of 2016, in the great state of Pennsylvania, I promised that I would use every lawful presidential power to protect Americans from unfair trade and unfair trade practices.

With the signing we mark more than just an agreement. We mark a sea change in international trade. The agreement tears down major market barriers for U.S. food and agricultural exports. Millions of workers and farmers and innovators have waited decades for this day.

At long last, Americans have a government that puts them first.

source:
https://www.youtube.com/watch?v=ApANiPz9Qis

references:
1. remedy: to deal with a problem or improve a bad situation
2. sea change: a very big change in something