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Friday, December 20, 2019

China, US Details on Phase-One Deal Not Coming Just Yet

China is signaling the details of the phase-one trade agreement with the U.S. will not be made public until the deal is signed, according to Ministry of Commerce spokesman Gao Feng.

The two sides are in close communication, but said there was no specific information he could provide on the deal. "After the official signing of the deal, the content of the agreement will be made public," Gao said.

Sen. Chuck Grassley, R-Iowa, echoed the situation, saying he has only had “very general conversations” with U.S. Trade Representative Robert Lighthizer on the specifics of the phase-one deal with China. “The reason why he would not want to be very specific to us is these texts are still being translated and we have got to know that they say what was agreed to before we talk,” Grassley told reporters on Wednesday.

He said the only detail on the benefit for agriculture is the U.S. claim that China has agreed to purchase between $40 billion and $50 billion worth of U.S. farm goods next year.