China, U.S. Reach Tentative “Phase One” Trade Agreement

President Trump signed off on the “Phase One” trade deal with China on Thursday afternoon, averting the December 15th introduction of a new wave of U.S. tariffs on $160 billion in Chinese goods.

Bloomberg News reports the deal does include a promise from China to buy more agricultural products. A White House spokesman declined a request for comment. Officials also say the phase-one pact would include commitments from China to do more to stop intellectual property theft, something the administration has been pushing for.

The phase one deal also includes commitments from both countries to no longer manipulate their currencies.