US lead negotiator, Robert Lighthizer, was speaking on CBS this weekend. Lighthizer said on Sunday that the phase one US/China trade deal reached on Friday is “totally done,” and it will nearly double US exports to China over the next two years.
“There’s a translation period. There are some scrubs, this is totally done. Absolutely.”
Key quotes
“We have a list that will go manufacturing, agriculture, services, energy and the like. There’ll be a total for each one of those,” he said. “Overall, it’s a minimum of 200 billion dollars. Keep in mind, by the second year, we will just about double exports of goods to China, if this agreement is in place. Double exports.”
“But ultimately, whether this whole agreement works is going to be determined by who’s making the decisions in China, not in the United States,” Lighthizer said. “If the hardliners are making the decisions, we’re going to get one outcome. If the reformers are making the decisions, which is what we hope, then we’re going to get another outcome.”
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