Donald Trump hails ‘momentous’ US-China trade deal

Washington, Jan 16: US President Donald Trump signed the first phase of a trade deal with China, which President Donald Trump described as historic, "momentous step" towards a future of fair trade between the two countries.

The deal is likely to end a two-year-long trade war between the world's two largest economies that had shaken up the global economy.

"Today we take a momentous step one that has never been taken before with China as we sign phase one of the trade deal," Trump said, announcing the agreement.

The first phase of the trade deal includes Intellection Property (IP) Protection and Enforcement, ending forced technology transfer, a dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.

The deal was signed by President Trump and Chinese Vice Premier Liu He.