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Trump lauds trade deal with China as "fantastic"

WASHINGTON, Oct 15 (KUNA) -- US President Donald Trump affirmed on Tuesday afternoon the phase one trade deal, recently reached with China, would be a source of pride for American farmers as it allows the export of large amounts of agricultural products to China. Welcoming the 2019 Stanley Cup champions, the St. Louis Blues, to the White House, he said, "We made a fantastic deal. You guys would have been very proud of it." "We are going to be selling to China about USD 50 billion worth of farm agricultural products and it's amazing.
"And China has been great. China has really been great in this and we have a phase two and we are doing a lot with banking and with financial services already in phase one," he pointed out.
"So we have USD 50 billion worth of agriculture it is the largest contract of its kind and China is starting immediately," Trump added.
Yesterday, US Secretary of Treasury Steve Mnuchin said there will be "deputy level calls" with China this week followed by "principal level calls" next week that would include him, US Trade Representative Robert Lighthizer and China's Vice Premier Liu He.
Trump announced last week that US and Chinese trade negotiators "have come to a very substantial phase one deal," where the deal includes "intellectual property, financial services and USD 40-USD 50 billion related to agriculture products." (end) rsr.gb