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US Reaches Phase One Trade Deal With China

China has agreed to structural changes across technology transfer, intellectual property, financial services, foreign exchange and currency and agriculture areas under a phase one trade agreement with the U.S. government.

The White House said Friday that the U.S. government has agreed to change its Section 301 tariffs under the deal, which could benefit U.S. manufacturers, farmers, service providers and inventors.

China committed to making significant purchases of U.S. agricultural products, manufacturing goods, energy products and services. The trade deal also includes the implementation of a new dispute resolution system to help ensure effective enforcement.

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