LOC20:19
17:19 GMT
WASHINGTON, Dec 13 (KUNA) -- US President Donald Trump announced Friday to the reaching of a "very large phase one" trade deal with China and that negotiations on phase two of the deal will begin "immediately."
"We have agreed to a very large Phase One Deal with China," Trump tweeted.
He added that China "agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more."
He indicated "the 25 percent Tariffs will remain as is, with 7 1/2% put on much of the remainder."
Trump noted that the "Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal."
"We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!" he remarked. (end)
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