As per Han Jun who is the Vice Minister of Agriculture affairs, Beijing is going to significantly increase the purchase of agricultural products although he has not specified how much this increase is going to be. Trump has been insisting on the fact that China must buy more crops from America as a part of the deal which has taken place and this announcement led to Trump cheering this commitment through his twitter handle.
Both the sides have said that they would be moving to make changes in relation to the issues of financial services, technology transfers and intellectual property. United States has said repeatedly that it is trying to address the issues which Trump has pushed on cracking down what the President calls the trade abuses by China.
The agreement is still required to go through the procedures legally as both the countries are working together for setting a time to ink this deal. On Friday, the trade representative of U.S. has said that both the countries are aiming to sign this agreement in the month of January.
Trade negotiators have said that the administration of Donald Trump has not made any promises of rolling the tariffs back in the future however U.S. is not going to impose any new duties if China agrees to act in good faith.
Trump on Friday added that U.S. is going to begin the negotiations on the next phase of the deal right after this and are not going to wait until the elections of 2020 get over. Earlier in comments that worried investors, Trump had suggested that the agreement may well be happening after November 2020.
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