Earlier this week, US and Chinese representatives met for the 13th time in ongoing negotiations to reach a trade deal. On Friday, President Trump outlined what has been referred to as “Phase 1”:

1. Suspension of tariff hike set for October 15th that would have increased tariffs from 25% to 30% on $250 billion in Chinese goods.

2. Some intellectual property protections on copyrights, trademarks and piracy (no movement on technology transfers, data flows, cyber security, product standard reviews or the new social credit system.

3. China’s commitment to purchase $50 billion in US agricultural products

The announcement is short on details and more information should be available in 5 weeks and details will be posted as soon as they are available.

If you have any questions how these duties will impact your business, or for any questions on trade with China, contact experienced trade attorney David Hsu at 832-896-6288 or by email at attorney.dave@yahoo.com, dh@gjatradelaw.com.