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US and PRC Governments, Trade Agreement, January 15, 2020

The United States and People's Republic of China reached a "phase one" trade agreement on January 15, 2020, following two years of a trade war.

January 15, 2020

The full text of the agreement is available in pdf form at the link below.

Below is the preamble to the agreement:


The Government of the United States of America and the Government of the People’s Republic of China (collectively the “Parties”),

RECOGNIZING the importance of their bilateral economic and trade relationship;

REALIZING that it is in the interests of both countries that trade grow and that there is adherence to international norms so as to promote market-based outcomes; 

CONVINCED of the benefits of contributing to the harmonious development and expansion of world trade and providing a catalyst to broader international cooperation;

ACKNOWLEDGING the existing trade and investment concernsthat have been identified by the Parties; and 

RECOGNIZING the desirability of resolving existing and any future trade and investment concernsas constructively and expeditiously as possible,

HAVE AGREED as follows [see attachment]: