U.S. exports to China to double under ‘Phase One’ deal: Kudlow

December 16, 2019

WASHINGTON (Reuters) – U.S. exports to China will double under the so-called Phase One trade deal reached between Washington and Beijing, a top White House adviser said on Monday.

“They’re … going to double our exports to China,” National Economic Council Director Larry Kudlow told Fox News Channel.

Under the trade agreement announced last week, Washington will reduce some tariffs on Chinese imports in exchange for Chinese purchases of agricultural, manufactured and energy products increasing by about $20 billion over the next two years.

While U.S. officials have touted the deal, Chinese officials have been more cautious, emphasizing that the trade dispute has not been completely settled.

U.S. President Donald Trump has said negotiations on a “Phase Two” trade deal between the two economic giants would start immediately.

U.S. Trade Representative Robert Lighthizer said on Sunday that a date for senior U.S. and Chinese officials’ signing of the accord has not yet been determined.

(Reporting by Makini Brice and Susan Heavey in Washington; Writing by Tim Ahmann; Editing by Chizu Nomiyama and Matthew Lewis)