Liu He arrives in Washington

Business | 14 Jan 2020 10:59 am

At the invitation of the United States, Vice Premier Liu He, the chief negotiator for the China-U.S. comprehensive economic dialogue, arrived Monday in Washington to conclude a phase one trade agreement with Washington, CGTN reports. 

Liu's trip will end on wednesday.

Chinese officials say China and the United States must deal with bilateral economic and trade relations with the "big picture" in mind.

According to Xinhua, "the text includes nine chapters: the preface, intellectual property rights, technology transfer, food and agricultural products, financial services, exchange rate and transparency, trade expansion, bilateral assessment and dispute settlement, and the final terms," according to a statement issued by China last month.

The two sides agreed the U.S. will fulfill commitments to phase out additional tariffs on Chinese products, and change course from raising tariffs to reducing them.

They say reaching the agreement will not only serve the core interests of both countries, but also the world.

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