Key points in U.S.-China 'phase one' trade deal

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Key points in U.S.-China 'phase one' trade deal
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US officials say they expect to sign the pact in early January after a legal review and once they have made certain the English and Chinese versions of the text are equivalent.

Officials will work diligently to complete a legal review and translations of the text before a final signing, Wang Shouwen, deputy minister of commerce, said Friday.US and Chinese officials said the agreement includes protections for intellectual property, food and farm goods, financial services and foreign exchange, and a provision for dispute resolution.

US officials have long said enforcement was crucial to ensuring that China holds up its end of the bargain, an area of nagging skepticism.Trump has promised that any deal would include a commitment from China for a massive increase in purchases of US farm products.But US officials told reporters China's commitments for imports of $200 billion in all across 4 sectors including energy and manufacturing, would unfold over two years.

Han Jun, vice minister of agriculture in Beijing, said the partial agreement also would boost China's farm exports to the United States, including cooked poultry, pears and dates.

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