We take a momentous step -- one that has never been taken before with China -- toward a future of fair and reciprocal trade, as we sign phase one of the historic trade deal between the United States and China. Together, we are righting the wrongs of the past and delivering a future of economic justice and security for American workers, farmers, and families.„
President Donald J. Trump
The United States and China signed an historic and enforceable agreement on a Phase One trade deal on January 15, 2020. The agreement requires structural reforms and other changes to China’s economic and trade regime.
Chapters with Key Achievements include:
- Intellectual Property
- Technology Transfer
- Financial Services
- Expanding Trade
The Phase One economic and trade agreement includes a chapter on intellectual property (IP) that strengthens protection and enforcement of IP in China.
The chapter addresses numerous longstanding concerns in the following areas:
- Trade Secrets
- Patents and Pharmaceutical-Related Intellectual Property
- Geographical Indications
- Enforcement Against Pirated And Counterfeit Goods
The Phase One economic and trade agreement addresses certain acts, policies, and practices of China identified in the Section 301 investigation related to technology transfer, intellectual property, and innovation. The agreement begins to rebalance our trade relationship and achieves meaningful, fully-enforceable commitments to resolve structural issues.
The agreement prohibits the forcing or pressuring of foreign companies to transfer their technology as a condition for market access, administrative approvals, or receipt of any advantages. The agreement also requires that any transfer or licensing of technology be based on market terms that are voluntary and reflect mutual agreement.Read More
What They Are Saying
China has taken advantage of the US for years. President Trump stood up for Americans and fought for the fairness that our workers deserve.
This agreement is a concrete step towards restoring stability and trust in the overall US-China relationship.
Today, the two most powerful economies in the world began to restore a positive, mutually beneficial trade relationship.