The "phase one" U.S.-China trade deal will nearly double U.S. exports to
China over the next two years and is "totally done" despite the need for translation and revisions to its text, U.S. Trade Representative Robert Lighthizer said on Sunday.
The deal, announced on Friday after more than two and a half years of on-and-off negotiations between
Washington and
Beijing, will reduce some U.S.
tariffs on Chinese goods in exchange for increased Chinese purchases of U.S. agricultural, manufactured and energy products by some $200 billion over the next two years.
China has also pledged in the agreement to better protect U.S. intellectual property, to curb the coerced transfer of
American technology to Chinese firms, to open its financial services market to U.S. firms and to avoid manipulation of its currency.