US, China leaders sign new trade agreement
© WikiMedia (Dan Scavino)
US, China leaders sign new trade agreement

The Trump administration announced the singing of a new trade deal with China on Wednesday.

The treaty covers intellectual property, technology transfer, food and agriculture, and financial services. It also discusses economic policies such as exchange rates and a commitment to expand trade between the US and China. Despite the US’ long opposition to China’s intentional currency devaluation, due to its impact on trade, the treaty does not appear to contain any sign that China has agreed to desist in that practice. Based on the document itself, it is unclear if the concern was discussed during negotiations.

Another primary concern, the theft of American intellectual property is discussed in detail in the treaty. According to the treaty, China has agreed to take steps to prosecute Chinese citizens who steal American intellectual property. While much of the treaty contains a more balanced series of commitments, China has agreed to do a great deal more than the US, likely due to the already stringent protections in the US.

The treaty will not go into effect until its ratification by the US Senate.