FILE – In this June 29, 2019, file photo, U.S. President Donald Trump poses for a photo with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan. (AP Photo/Susan Walsh, File)
OAN Newsroom
UPDATED 1:24 PM PT — Thursday, January 2, 2020
JPMorgan’s former Chief Economist is saying the Phase One U.S.-China trade deal is a “step in the right direction.” On Wednesday, Anthony Chan said the agreement shows the world’s two largest economies are willing to work with each other.
“It gives credence to the view that both sides are certainly trying to engage each other and reduce those trade tensions, which is the right way to go,” said Chan.
His remarks came shortly after President Trump posted a tweet, which announced his plan to sign the “large and comprehensive” deal later this month.
I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15. The ceremony will take place at the White House. High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!
— Donald J. Trump (@realDonaldTrump) December 31, 2019
The deal is expected to cover issues such as intellectual property rights, technology, food and financial services.
Chan went on to say the president’s talk of future phases may indicate the U.S. will be scaling back on tariffs sooner rather than later.
Related: President Trump To Sign ‘Phase One’ Trade Deal With China At White House Ceremony On Jan. 15th
