U.S. Markets closed

Trump's China team: Who was instrumental in the phase one deal

Brittany De Lea

The Trump administration officially signed a phase one trade deal with China on Wednesday at the White House where the president thanked his trade team for its efforts in securing the historic agreement.

“This really is a landmark agreement,” President Trump said during a speech accompanying the signing.

The deal is intended to do a multitude of things to benefit the U.S. economy, including leveling the playing field for U.S. farmers, protecting U.S. tech companies from intellectual property theft, lifting barriers that have prevented financial companies from competing in China and raising U.S. agricultural exports.

WHY 'PHASE ONE' CHINA TRADE DEAL DOESN'T NEED CONGRESSIONAL APPROVAL, UNLIKE USMCA

US-CHINA PHASE ONE TRADE DEAL: WHAT BEIJING HAS AGREED TO BUY

China will increase imports of American goods and services by at least $200 billion over the course of two years and Beijing will purchase as much as $50 billion worth of agricultural goods per year over the same time frame.

Here’s a look at the members of the administration who were instrumental in securing the deal:

GET FOX BUSINESS ON THE GO BY CLICKING HERE

U.S. Trade Representative Robert Lighthizer

Trump joked on Wednesday that Lighthizer hasn’t had much time to sleep between working on the trade deals with China and Mexico and Canada.

Lighthizer said his job has been “tough” so far.

Commerce Secretary Wilbur Ross

Trump called Ross a “legend on Wall Street.”

Treasury Secretary Steven Mnuchin

Trump mentioned that Mnuchin has worked with Lighthizer “hand-in-hand.”

U.S. Agriculture Secretary Sonny Perdue

Perdue knows agriculture as “well as anybody in the world,” according to Trump.

White House trade adviser Peter Navarro

Trump mentioned that Navarro brings a different point of view to the trade team.

CLICK HERE TO READ MORE ON FOX BUSINESS

Related Articles